The US Fed Funds rate is seen 125 basis points higher than its current level by the end of the year as market expectations see the Federal Reserve continuing to hike rates in the war against inflation. Get your market update from nickcawley1 here:
The US Fed Funds rate is seen 125 basis points higher than its current level by the end of the year as market expectations see the Federal Reserve continuing to hike rates in the war against inflation. The Fed Funds rate currently stands at 2.25% to 2.50%. and is seen hitting 3.50% to 3.75% by mid-December.
The renewed push higher in both US rate expectations and the US dollar is being driven by thoughts that the US Federal Reserve chair will double down on his hawkish outlook when he speaks at the Jackson Hole Economic Symposium on Friday . Recent thoughts that the Fed may make a dovish pivot as recession fears grow were put to bed last week after a raft of Fed members spoke backing further, aggressive, rate hikes in the coming months.
This week also sees the latest look at US Q2 GDP on Thursday – expected -0.8% - and the Fed’s favorite inflation measure, Core PCE on Friday. With the latest inflation figure being released just 90 minutes before Jerome Powell speaks, beware of heightened volatility going into the weekend.
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