Choose your settings
Choose your language
Essentials of Monetary Policy

Federal Reserve (Fed). Steep but Steady Rate Hikes to Slow Growth Sharply in 2023

July 27, 2022
Randall Bartlett
Senior Director of Canadian Economics

Much like the well-telegraphed increase in the policy rate, the press release was little changed from the June announcement. And while the Bank of Canada opened the door to a 100bps rate hike, the Fed is instead taking a steep but steady approach hiking rates. Consequently, we view future rate hikes in excess of 75bps to be unlikely.