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22 Mar 2022

Goldman predicts Fed hiking rates by 50 bps at May and June Meetings

Goldman predicts Fed hiking rates by 50 bps at May and June Meetings

The Index Today

Goldman Sachs expects that the U.S. Federal Reserve will raise interest rates by 50 basis points each at its May and June meetings, following hawkish remarks by the central bank's chair Jerome Powell.

Powell said on Monday, The Fed must move "expeditiously" to raise rates and possibly "more aggressively" to keep an upward price spiral from getting entrenched.

The analysts wrote in a report published late on Monday, "Our best guess is that the shift in wording from 'steadily' in January to 'expeditiously' today is a signal that a 50bp rate hike is coming."

The analysts also anticipated four further 25 basis point rate hikes in 2022, one at each Fed meeting in the second half of this year, and three hikes in 2023. The analysts, however, left their forecast for the Fed's terminal rate unchanged at 3%-3.25%.

The Fed raised rates last week for the first time since 2018.

©Photo: Financial Times