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- Fed seen hiking rates by 75 bps this week – JP Morgan
Fed seen hiking rates by 75 bps this week – JP Morgan
Economists at JPMorgan Chase believe that the Federal Reserve could raise interest rates by 75 basis points (bps) on Wednesday after a survey showed Americans’ inflation expectations rising, per Bloomberg.
Key quotes
“An increase of 100 basis points is also “a non-trivial risk.”
“Cited a Wall Street Journal report on Monday saying Fed officials were likely to consider a 75 basis-point move. Previously, the Fed had signaled it would probably raise borrowing costs by 50 basis points at this month’s gathering.”
Meanwhile, JPMorgan Chase & Co. strategist Marko Kolanovic reiterated his view that the US stock market is poised for a gradual recovery in 2022 and the S&P 500 Index will likely end the year unchanged.
“The move in markets prices in more than enough recession risk, and we believe a near-term recession will ultimately be avoided thanks to consumer strength, Covid reopening/recovery, and policy stimulus in China,” Kolanovic said.
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