Citing former senior Bank for International Settlements official and former New York Fed director of research Stephen Cecchetti, MNI reported Wednesday that “the Federal Reserve will likely approve a quarter-point interest rate hike next week.”as attention shifts from strong economic data to restoring confidence in the banking system.”
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“I would try to get that message across as broadly, clearly and quickly as possible, and then I would raise interest rates. Does that mean I’d probably go up to 25 now instead of 50 and postpone further hikes? Probably yes.”
“Pausing would be a very bad sign. It would be taken to mean that you are genuinely concerned about the consequences for financial stability. of further interest rate hikes and that you are willing to compromise your inflation target.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
