Economists led by Jan Hatzius now predict the Fed will lift its near zero benchmark by 25 basis points five times this year rather than on four occasions. That would take the benchmark to 1.25 per cent-1.5 per cent by the end of the year.
The switch came days after Fed chairman Jerome Powell said officials were ready to raise rates in March and left the door open to moving at every meeting if needed to curb the fastest inflation in 40 years. “The evidence that wage growth is running above levels consistent with the Fed’s inflation target has strengthened, and we have revised up our inflation path,” the Goldman Sachs economists said in a report to clients.“In addition, Chair Powell’s comments earlier this week made it clear that the Fed leadership is open to a more aggressive pace of tightening.”
Even as they agreed the Fed will do more than they previously bet, banks were divided this week over how aggressive policy makers would be.
BLSHigh Even with a new COVID variant 😂
Bring it on 😎
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