The Federal Reserve is broadly expected to decrease its interest rate hike from 75 to 50 bps during its meeting later this week. However, it’s the terminal rate, and its effect on the growth prospects of the U.S. economy are keeping investors concerned.
A robust employment data and hotter-than-expected producer price data for November have anything but allayed those concerns. Matt Toms, global chief investment officer at Voya Investment Management, anticipates that the Fed’s target rate could continue to climb before a recession forces the central bank to change course rapidly later next year.
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