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 interest rate hikes, and Federal Reserve 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 economy, 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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