Investors will be focusing their attention on the Federal Reserve’s meeting next week, searching for details on a potentially hawkish pivot in monetary...
Investors will be focusing their attention on the Federal Reserve’s meeting next week, searching for details on a potentially hawkish pivot in monetary policy in the face of high inflation.
U.S. inflation rose again in November, increasing the annual rate to 6.8%, the highest in nearly 40 years, according to consumer-price index data released Friday by the Department of Labor. That’s the highest pace of inflation since 1982, when Ronald Reagan was U.S. president.“The Fed is running out of time,” said Tom Graff, head of fixed income at Brown Advisory, in a phone interview.
A slower pace might mean the Fed raises rates many times in a cycle but, say, every other policy meeting, she said. Sonders said markets have priced in about three rate hikes for 2022, which is above the two that she’s expecting — at least at this stage. The stock market became jittery after the new omicron variant of the coronavirus emerged, fearing it could hurt the economic recovery during the COVID-19 pandemic. Early this month, the Associated Press reported that multiple cases of omicron have been detected in New York.
See: Traders raise expectations for accelerated rate hikes by Federal Reserve after Powell speaks, flattening Treasury curve even further
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