Inflation currently sits at 8.5%, which is a decrease from June's 40-year high of 9.1%. The Fed has stated that its goal is to reduce inflation levels down to 2% by 2024 through rapid interest rate hikes.
, which is a decrease from June's 40-year high of 9.1%. The Fed has stated that its goal is to reduce inflation levels down to 2% by 2024 through rapid interest rate hikes, and may further elaborate its plans at its upcoming Jackson Hole conference on Friday.
"There's still people talking about 75 basis points — I think it'll be 50," Johnson said about impending rate hikes for September."And talking about 50 basis points in November, I think it'll be 25. December, 25. They say they're going to be as tough as they've ever been. I don't think so. I think they're going to come off of that; otherwise, they're risking the same mistake that we see so continuously in financial market history.
Federal Reserve Chair Jerome Powell takes questions from reporters in Washington, D.C., June 15, 2022, after the Fed raised rates again to fight inflation. REUTERS/Elizabeth Frantz "You're not going to see employment numbers that are as good or as strong as we saw for the month of June and July," Johnson said. “What you're going to see is the numbers are going to be coming down and coming down pretty swiftly. So we're going to have soft economic numbers. Now what I would like to see is that this gets reflected in Federal Reserve interest rate decisions.
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