Feds Combating Inflation With Interest Hike
The battle over inflation is a bit far from over, as it’s predicted that there might be a move from the Feds reserve to increase interest rate twice from the recent increment which happened few weeks ago. The subsequent interest rate increase is to combat inflation, the former VC of the US federal reserve in an interview says - he thinks that there are a number of factors that might encourage that second rate hike. First, they’ve already mentioned that as a possibility. And secondly… the economy is continuing to do very well, fortunately, giving them room for one more move if that’s what the data calls for.
He further states that the Federal Reserve is data dependent as “I think they were also pretty pleased with the last print from the CPI (consumer price index), but it’s far from over that they’re getting inflation definitely down to that 2% number. And I think part of the problem is inflation still might be stuck a little higher than 2%, forcing them maybe to do not one more [hike] after July, but possibly two if that’s what the data calls for.
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