FEd harker boxing meme
  • The time for supercharging rate hikes is over
  • Fed committed to lowering inflation back to 2%
  • Expects Fed to raise rates 'a few more times' this year
  • Expects inflation to moderate to 3.5% this year
  • Inflation will fall to Fed's target in 2025
  • US economy to grow 1% this year, unlikely to suffer recession
  • US unemployment rate to tick up to 4.5% this year before ebbing

2025 is a long time to wait to get back to target. Harker is a good barometer for the core of the Fed and the market is pricing in a 92% chance of a 25 bps hike on Feb 1.