Fed Seen as Likely to Hike Three Times Through March
Dow Jones
7 hours ago
1239 ET - The Fed may be about to start a hiking cycle that could extend into next year, Societe Generale's Jan Groen writes. Following Chairman Warsh's tough talk on inflation last week, Groen believes upcoming inflation data will be hot enough to drive the Fed to raise rates by a quarter of a percent this month, followed by similar hikes in December and March, "with a decent tail probability that the March hike will not materialize." He says that "a gradual path gives the Fed the flexibility to assess the impact of hikes on activity." It would also be more palatable for FOMC members currently favoring a longer hold, he says.
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