With inflation continuing to run hotter than expected, the Federal Reserve is showing no signs of backing down on its aggressive monetary policy, according to notes from the Fed's policy-setting committee released Wednesday.
“Bullard is one of the more hawkish [Fed officials], so if he thinks we only have a little ways to go here, the peak in rates might be properly priced” into stock prices, Oanda analyst Ed Moya explained in a Wednesday note.
The 25-basis-point hike earlier this month followed a half-point increase in December, itself preceded by four consecutive 75-basis-point hikes, each the largest individual jumps in nearly three decades. The slowdown came as data showed inflation was in fact easing, though prices cooled slower than expected last month. The latest inflation readingBank of America and Goldman Sachs to up their projections for the Fed to raise rates by 25 basis points at its next three meetings to a peak of 5.
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