On March 22 the Federal Reserve will announce it update Fed Funds target. Markets suspect a 0.25 percentage point rise as most likely, with a slightly smaller chance of holding rates steady. However, this Fed meeting is relatively uncertain when compared to most in recent years.
The inflation picture has deteriorated since the Fed’s last meeting, but banking issues may dominate. There is still concern that inflation is well above the Fed’s target and not falling fast enough. However, the banking crisis adds complexity to the Fed’s analysis. It doesn’t allow the Fed to deal with inflation in isolation any longer.
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