The Federal Reserve appears to have dialled up its hawkish tone, even as the fast-spreading omicron strain is clouding the global economic outlook.
The US Federal Reserve has cranked up its hawkish tone with an official laying out the case for more aggressive policy tightening, signalling an interest rate increase as early as March despite the omicron strain clouding the global economic recovery.
Federal Reserve governor Christopher Waller said on Friday an interest rate increase in March would be “very likely” given the rise in inflation, and that the central bank should begin trimming its overall bond holdings by next summer. Mr Waller noted that inflation was “alarmingly high” and “March could be a live meeting”. He also said the Fed could undertake quantitative tightening by mid-2022.
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