Investors Are Calling It: The Federal Reserve May Be Done Raising Rates
Summary
Pete Marovich for The New York Times Investors are betting that the Federal Reserve, which has raised interest rates to their highest levels in 22 years, may finally be finished. Philip N. Jefferson, the vice chair of the Fed, said this week that although “it may be too soon to say confidently that we’ve tightened enough,” higher market rates can reduce how much businesses and households spend while depressing stock prices. Given that, he said the Fed “will be taking financial market developments into account along with the totality of incoming data in assessing the economic outlook.” Investors have sharply reduced expectations of another rate increase before the end of the year. Philip Jefferson, the vice chair of the Federal Reserve, said that “it may be too soon to say confidently that we’ve tightened enough to return inflation.” The Fed has raised its key interest rate from near zero to above 5.25 percent over the past 19 months in an attempt to tame inflation. Wall Street may be coming around to the possibility that the Fed will leave borrowing costs set to high levels for a long time, economic growth has been strong, and some investors may be concerned about the size of the nation’s debt.
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