Photo: 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 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.

That would lift the target range for their policy benchmark to the range of 3 percent to 3.25 percent. Fed forecasts released at the meeting are expected to show the upper bound of the range at 4 percent by year-end and edging higher next year, before cuts in 2024 take it back to 3.6 percent.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.