Fed seen ending its interest rate hike campaign at June meeting, survey shows
"Having come this far, we can afford to look at the data and the evolving outlook and make careful assessments," Powell said during a Fed research conference in May.
Federal Reserve Chairman Jerome Powell arrives to speak during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Sept. 21, 2022. A number of central bank officials have reiterated that message, stressing the need to examine how tighter monetary policy is affecting the economy.
However, a handful of more hawkish officials — including St. Louis Fed President James Bullard and Cleveland's Loretta Mester — have hinted they areAbout 40% of the survey economists expect a dissent at the meeting — a change from the nearly unified votes over the past year.
The economists are divided over whether the Fed will resume rate hikes over the summer, or whether the current range of 5% to 5.25% represents the peak. Roughly one-third of respondents are bracing for an 11th rate hike in July. from a peak of 9.1%, it remains about more than double the pre-pandemic average and well above the Fed's 2% target rate.
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