Thursday, July 14, 2022

More Tightening Pressure on the Fed After Bank of Canada 100 bp Hike

Click here to read the original Cautious Optimism Facebook post with comments

From the Cautious Optimism Correspondent for Economic Affairs and Other Egghead Stuff:

"The pressure on Federal Reserve Chair Jerome Powell to strike harder against inflation grew even stronger today as his Canadian counterpart announced a supersized interest rate hike of a full percentage point."

"The move left Canadians reeling — especially given the implications for their overheated housing market and heavy debt loads — but it also left their southern neighbors wondering if the same thing could happen here."

"With the Fed’s next meeting scheduled for July 26 to 27, analysts are already wagering that Powell will follow in Bank of Canada Governor Tiff Macklem’s heavy footsteps."

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