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Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

April 10, 2023

This week, market investors are focused on several factors, including the Consumer Price Index (CPI) report and earnings reports from some of the largest banks in the United States. However, one of the biggest factors investors are eyeing will take place in 23 days when the Federal Open Market Committee (FOMC) meets to potentially raise the federal funds rate. According to statistics from CME Group’s Fedwatch tool, there is a 66% chance the Fed will raise the rate by 25 basis points (bps). Conversely, there is a 34% chance the Fed won’t raise the rate in May, and some believe that after a 25 bps rate hike, May will be the last increase for 2023.

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