After the FOMC raised rates by 75bps in June, there has been a consistent tone: more rate hikes are needed and are coming. Inflation is top priority – even if it means a recession.
review comments and speeches made by various Federal Reserve policymakers since the June
The tone deployed by Fed policymakers since the June FOMC suggests that another 75-bps rate hike in July is possible. Rate hikes should continue at a rapid pace thereafter, with markets aligned with the FOMC’s Summary of Economic Projections – the dot plot – about where the terminal rate will find itself at the end of this year .– The FOMC raises rates by 75-bps for the first time since 1994.
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