Barclays Sees 75 bps Hike in July
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E-mailBarclays economist Jonathan Millar sees a 75bp hike from the Fed in July, while others are calling for a 100bp hike.
"With today’s firmer-than-expected June CPI print, and last week’s strong payroll numbers, we now expect the FOMC to raise the target range for the funds rate by 75bp in July," Millar comments. "We expect an aggressive 50bp hike in September, with the terminal rate hitting 3.25-3.5% at year-end. In 2023, we now expect two 25bp cuts.
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