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6/15, 8:49 PM (Source: TeleTrader)
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Fed to hike rates in November 2022 - survey

The Federal Reserve is expected to hike interest rates for the first time since the coronavirus pandemic broke out in November of 2022, according to the latest CNBC Fed Survey released on Tuesday.

Survey respondents forecast that the Fed's first major update to its monetary policy will be trimming down its $120 billion in monthly asset purchases, which they expected will begin in January of next year.

However, a majority of survey respondents, nearly 90% of them in fact, believe that the Fed's asset purchases aren't a necessary form of support for the economy. Meanwhile, 63% said that the Fed should stop the purchases now in order to avoid the risk of rising inflation.

Breaking the News / JC