US: Fed’s terminal rate now seen higher – UOB – by pabspiovano Fed CentralBanks Banks InterestRate UnitedStates
Senior Economist at UOB Group Alvin Liew and Rates Strategist Victor Yong reviews the recent semiannual testimonies by Chief J.Powell.“FOMC Chair Powell in his testimony to the Senate Banking Committee was hawkish as he warned that the process of getting inflation back to 2% has ‘a long way to go’ and the ultimate level of interest
is likely to be higher than previously anticipated. He added restoring price stability will likely require the Fed to maintain a restrictive policy stance for some time.”. Powell’s latest Congressional testimony not only indicated we are not near the end [of the tightening cycle], but we may have underestimated when the Fed hikes will end.
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