When the Federal Reserve meets next week, Chair Jerome Powell will need to forge a consensus.
One group of Fed officials would like to pause theirafter 10 straight hikes to allow time to look around and assess whether higher borrowing rates are slowing inflation.
“That’s probably the only way to keep the committee cohesive in an environment where they have seem to have somewhat broadening disagreements,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank Securities. One camp is more “dovish,” meaning it leans against another rate increase. The doves, who include Powell and other top officials, think it takes a year or more for rate hikes to deliver their full effect and that the Fed should stop hiking, at least temporarily, to evaluate the impact so far.three large banks collapsing in two months
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