Fed Reserve expected to announce fourth consecutive interest rate hike

Wednesday, November 2, 2022 | Tag Cloud Tags: , , ,

us economy crash worthy christian news

by Karen Faulkner, Worthy News Correspondent

(Worthy News) – The US Federal Reserve is expected Wednesday to announce its fourth consecutive 0.75% interest rate hike since June, Reuters reports. Numerous economists polled by Reuters have said the Fed should not pause until inflation falls to around half its current level.

A large majority of economists told Reuters they expect to see an increase in the federal funds rate by three-quarters of a percentage point to 3.75%-4.00% on November 2, while inflation remains high and unemployment falls to near pre-pandemic lows.

Referring to rates adjusted for inflation, Jan Groen, chief U.S. macro strategist at TD Securities, told Reuters: “The front-loading of policy rate tightening we have seen up to now has been aimed at getting to a positive real fed funds rate at the start of 2023.”

“Instead of a pivot, in our view, the Fed is signaling that they foresee shifting from front-loading up to December, towards more of a more grinding pace of hikes from then onward,” Groen added.

In a separate statement to Reuters, Brett Ryan, senior U.S. economist at Deutsche Bank, predicted: “With the Fed continuing its aggressive tightening to rein in persistent inflation, we expect a moderate recession likely to begin in Q3 next year as the real growth would dip negative, and the unemployment rate will rise substantially.”

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Copyright 1999-2023 Worthy News. All rights reserved.

If you are interested in articles produced by Worthy News, please check out our FREE sydication service available to churches or online Christian ministries. To find out more, visit Worthy Plugins.

Worthy Christian News