Credit Suisse Moves Call for Next Fed Hike to March From June
Source: BFW (Bloomberg First Word)
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James Sweeney (Credit Suisse Group AG)
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UUID: 7947283
(Bloomberg) -- Credit Suisse economists led by James Sweeney change their call for next Fed rate increase to March from June, yet say a move is “hardly assured”; they maintain expectation for three hikes between now and February 2018.
Alert: HALISTER1- Three factors have changed likely path of U.S. rates: core inflation has risen more than expected, data have been consistent with strong global growth momentum, and Fed rhetoric is becoming increasingly hawkish
- Factors that might avert a March hike include sluggish income growth and unremarkable real retail sales, industrial production and core PCE inflation
- Market’s rising implied probability of a March hike “could be self-fulfilling” because it undercuts claims that Fed needs a meeting to prepare public for a move
- CS doesn’t expect Yellen or Fischer on Friday to disavow recent hawkishness from Fed presidents
Source: BFW (Bloomberg First Word)
People
James Sweeney (Credit Suisse Group AG)
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UUID: 7947283