The Fed is expected to announce a three-quarters of a percentage point rate hike for the fourth consecutive time Wednesday afternoon. But investors hope Fed chair Jerome Powell will suggest that he central bank will soon “pivot” and slow its pace of rate hikes.
Those dreams may be dashed.
“I’m not convinced that Powell is backing down,” said Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence to CNN’s Alison Kosik on Wednesday’s “Markets Now” show. “The onus is on him to stay the course.”
DiMartino Booth, who worked at the Dallas Fed for nine years, said she thinks the Fed will continue to focus more on fighting inflation, especially since the jobs market remains healthy.
The Fed is going to remain vigilant about surging consumer prices, Rick Rieder, chief investment officer of global fixed income at BlackRock,…
