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Weekly Commentary

High Inflation in the United States Pushes Investors to Expect More Rate Hikes

February 11, 2022
Jimmy Jean • Francis Généreux • Benoit P. Durocher • Hendrix Vachon • Lorenzo Tessier-Moreau

January’s US inflation reading came in even higher than our above-consensus forecast, and as a result, the next Federal Reserve (Fed) meeting, on March 16, will be nail-biting. Markets have moved to discount elevated odds of a 50-basis point rate hike. And on Thursday, St. Louis Fed President James Bullard added fuel to the fire by calling for a supersized rate hike this year.