Info conveyed by the Wall Street Journal (gated) on what economists at JPM are projecting from the Federal Reserve's Federal Open Market Committee (FOMC).
- 75bp rate hike coming on Wednesday, 21 September 2022
- 50bp coming at the following meeting in November (JPMorgan’s earlier called for a 25bp increase in November)
- further hikes reaching a target rate of 4.25% by February
- “The labor market has proven surprisingly resilient and downside growth risks appear to have abated,”
- “This leads us to believe the Fed will have to do more to restrain labor demand.”
Meetings ahead:
The first meeting of 2023 is January 31 - February 1.
