Wednesday, November 24, 2021

The Fed will raise rates for the first time in July 2022

 The Fed will raise rates for the first time in July 2022, the second time in November, and twice a year after that – Goldman Sachs

 “Chairman Powell and Governor Brainard have similar views on monetary policy,” Goldman Sachs (GS) in their latest analyst report welcomed US President Joe Biden's decision to nominate  Mr. Jerome Powell serves as Fed Chair for a second term and Richard Clarida for Vice Chairman.

 “Both believe that the current increase in inflation reflects transient (but not necessarily short-lived) factors, while stressing that the FOMC will use its tools to maintain  price stability if needed,” the US-based bank added.

 The GS also said, "Powell and Brainard have also highlighted that they look at a range of indicators to gauge progress in the Fed's broad and inclusive employment target, although Powell indicated in November.  that the goal of full employment may not be the same as pre-pandemic conditions."

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