Economists believe the Fed could hike rates by three-quarters of a percentage point, triple the usual increase, with the cost of living for Americans rising surprisingly fast.
Expectations of an unusually big Fed rate hike increased after government data Friday showedThe Fed is scrambling to get prices under control after being criticized earlier for reacting too slowly to inflation pressures.
Japan's central bank has kept rates near record lows. That has caused the yen to fall to two-decade lows below 135 to the dollar as traders shift capital in search of higher returns.
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JP Morgan, Goldman economists now expect Fed to raise rates by 75 basis points on WednesdayEconomists at JP Morgan and Goldman Sachs said in client notes Monday that they now expect the Federal Reserve to raise its policy rate by 75 basis points on Wednesday. Or could it even be 100?
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Economists Warn More Fed Rate Hikes Would 'Push Millions Out of Work'In the wake of a higher-than-anticipated inflation reading, experts implored the Federal Reserve not to pursue more \u0022aggressive interest rate hikes.\u0022
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'A Big Mistake': Economists Warn Fed Rate Hikes Risk Plunging US Into Recession'Relying on the Fed to bring down prices is like treating someone's fever by putting them in a freezer,' said former Labor Secretary Robert Reich. 'It doesn't treat the underlying disease, and could make things far worse.'
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Inflation is higher for Hispanic and Black Americans, NY Fed report saysThe headline inflation number in the Consumer Price Index is an average, and doesn't reveal much about how different households experience rising prices. There are real differences across income groups, or between rural and urban dwellers, for example.
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Opinion | The utter hypocrisy of members of Congress trading on the stock marketRichard W. Painter: Members who want to play the market instead of representing the public are always free to resign or not run for re-election. If they won’t, voters should make the choice for them in November.
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Central Bank Watch: Fed Speeches, Interest Rate Expectations Update; July Fed Meeting PreviewRates markets are fully discounting a 75-bps rate hike by the Federal Reserve this week, with a 13% chance of a 100-bps rate hike.
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