According to Reuters, Federal Reserve Bank of Philadelphia President Patrick Harker stated on Thursday that future rate rises by the Fed should begin to be made in increments of 25 basis points.
The Federal Reserve will probably increase rates a few more times in 2023.
“Not seeing a recession, but this year’s GDP growth should fall to 1%.”
“The era of enormous rate increases is over. “Fed will need to remain steady for a while once rises finish.”
Core inflation is probably going to drop to 3.5% in 2023 and reach the Fed’s objective of 2% in 2025.”The worst of the inflation increase is probably gone now.”
The labor market is still in great health.
4% unemployment is expected to return after increasing this year.
“Unemployment is anticipated to increase from its current rate of 3.5% to 4.5% this year.”
