Several Federal Reserve officials this week endorsed additional interest rate hikes as the central bank tries to bring inflation under control by slowing the U.S. economy.
Colliers Securities Chief Global Strategist Mark Grant assesses the Federal Reserve's most recent rate hikes and discusses market strategies.officials are laying the need for further interest rate hikes in the coming months as they wrestle to bring the highest inflation in decades under control, even if it means slowing economic growth and raising unemployment.
"This is a serious problem, and we need to be sure we respond to it appropriately," St. Louis Fed President James Bullard said during an economic conference in London on Tuesday. "We have increased the policy rate substantially this year and more increases are indicated." Minneapolis Federal Reserve President Neel Kashkari warned the current state of inflation is 'very concerning' and continues to 'spread out more broadly across the economy' during an appearance on CBS' 'Face The Nation' on Sunday, July 31, 2022.
The U.S. central bank has embarked on one of the fastest courses in history to raise borrowing costs and. Officials last week approved a third consecutive 75 basis point rate hike, lifting the federal funds rate to a range of 3.0% to 3.25% – near restrictive levels – and indicated that more super-sized increases are coming.
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