, accelerating from the prior month's 6.8% rate and marking the fastest price growth since 1982.
The report prompted several calls for more urgent monetary tightening. Goldman Sachs economists revised their base case on Saturday to include four rate hikes through 2022, citing extraordinarily strong wage growth and Omicron's impact on supply chains for the updated outlook. JPMorgan CEO Jamie Dimon shared an even more hawkish outlook earlier in January. The chief executive told CNBC he'din 2022, and said in a quarterly earnings call that the Fed could lift its benchmark rate as many as seven times over the next 11 months.
Fears of a quick pullback in emergency aid have fueled a massive sell-off in stocks over the last few weeks. Investors bracing for faster tightening pulled cash from risky assets, concerned the central bank's fight with inflation would knock stocks' appeal. The Nasdaq composite and the S&P 500in the days leading up to the FOMC meeting, though the benchmark indexes have since pared some losses.
Stocks rallied on news of the Fed's decision. The lack of specific timing for future hikes likely eased fears that the central bank will tighten faster than it previously signaled.Sign up for notifications from Insider! Stay up to date with what you want to know.
This is bad news for startups!
This guy is gonna crumble the US economy. Highly out of touch with reality and the labor market is weaker then GenZ emotions. No one is getting paid anymore with the inflation and we are catering to fast food workers. Not infrastructure jobs. Soylentgreen coming.
tell us how much you pay nick
$BTC dump
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