Fed likely to boost interest rates by three-quarters of a point this week

Monday, June 13, 2022 | Tag Cloud Tags: , , , ,

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(Worthy News) – Markets are beginning to anticipate an even faster pace of rate hikes, and officials apparently are contemplating the possibility as well.

Central bank policymakers are entertaining the idea of a 75 basis point increase to the Fed’s benchmark funds rate that banks charge each other for overnight financing, according to CNBC’s Steve Liesman.

“My reporting is that a 75-basis-point rate hike will be announced on the second day of this week’s meeting, is very likely, a real distinct possibility,” Liesman said. “I know that Powell said the committee back in May was not actively considering it, but he also said that they were looking at the , and I think the economy has changed to the point in my reporting, such at this point, I’d be dialing in to 75 if I were a betting man at this point, not at 50.“ [ Source: CNBC (Read More…) ]

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