What Will The FED Do NEXT!? Press Conference Tells ALL!!
Have you heard of the banking crisis? Because apparently the Fed hasn’t. Despite the fact that 4+ banks have gone down and there are some early warning signs of economic weakness, the Fed raised rates by another 25 basis points earlier this week.
This brings the effective Fed funds rate to between 5-5.25%, and it’s likely that the Fed will wait and see what effects its rate hikes will have on the economy. Then again, Jerome made some hawkish comments during the subsequent press conference.
This is probably it’s been referred to as a ‘hawkish pause’. Jerome made it clear that the Fed will be dependent on the incoming data, but he also made it clear that he’d like another rate hike. Case in point, he thinks there won’t be a recession!
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