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MNI INTERVIEW: Fed To Hike More Than Markets Expect–Goodhart

(MNI) Washington
(MNI)

Rates could rise 1% to 1-1/2% more than investors expect, ex-BOE member says.

The Federal Reserve will likely raise interest rates substantially more than markets are pricing in because inflation will prove stubborn even amid slowing economic activity, former long-time Bank of England member and adviser Charles Goodhart told MNI.

Wall Street is betting the fed funds rate will peak around 3.6%, while Fed officials have signaled rates will end the cycle around 3.8%.

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The Federal Reserve will likely raise interest rates substantially more than markets are pricing in because inflation will prove stubborn even amid slowing economic activity, former long-time Bank of England member and adviser Charles Goodhart told MNI.

Wall Street is betting the fed funds rate will peak around 3.6%, while Fed officials have signaled rates will end the cycle around 3.8%.

Keep reading...Show less