Weekly Economic Perspectives

The Fed delivered its fourth consecutive 75 basis point rate hike, bringing the upper level of the Fed Funds to 4.0%. Chair Powell maintained a fairly hawkish tone during the press conference, focusing on a few key messages, namely that it is “premature to discuss pausing”, that “we have a ways to go”, and that “we want people to understand our commitment to getting this done”. The task, of course, is bringing inflation back to the 2.0% target over time.