Some Fed watchers and Wall Street strategists and economists are pricing in the potential for a 0.5 of a percentage point rise later this month.
The Federal Reserve chairman made clear that he’s willing to press interest rates both higher and at a faster pace if needed as the US central bank reacts to more resilient than expected economy and still high inflation.
“Nevertheless, with most leading indicators still flashing red and the impact of the huge monetary tightening already seen still feeding through, we still believe the real economy and labour market are likely to be weaker this year than the Fed expects, with a recession, the most likely outcome. That should push inflation down a little more quickly than the Fed anticipates.
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