Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following an FOMC meeting in Washington, D.C., on July 27, 2022. Photographer: Ting Shen/Bloomberg
Federal Reserve officials will signal a more hawkish stance next week, with interest rates reaching 4 percent by December and staying high through 2023, according to economists surveyed by Bloomberg. The survey participants expect the Federal Open Market Committee (FOMC) to raise rates by 75 basis points (bps) for a third consecutive meeting when policymakers announce their decision next Wednesday.
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