Economist Now Calling For Back-To-Back 0.5% Fed Interest Rate Hikes
The U.S. Federal Reserve raised its target Fed funds rate by 0.25% earlier this month, its first interest rate hike since 2018. The Fed's updated dot plot projections are calling for six more 0.25% rate hikes in 2022, but the latest comments from Fed Chair Jerome Powell suggest the Fed may be even more aggressive with its rate hikes in the near term.