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JPMorgan Economists Now See Fed Hiking 75 Basis Points This Week

·1 min read

(Bloomberg) -- JPMorgan Chase & Co. economists said they expect the Federal Reserve to raise interest rates by 75 basis points at their meeting on Wednesday after a survey showed Americans’ inflation expectations rising.

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An increase of 100 basis points is also “a non-trivial risk,” chief US economist Michael Feroli said in a note Monday.

Feroli also cited a Wall Street Journal report on Monday saying Fed officials were likely to consider a 75 basis-point move. Previously, the Fed had signaled it would probably raise borrowing costs by 50 basis points at this month’s gathering.

The Fed’s target rate for its benchmark stands at a range of 0.75% to 1% following a half-point increase in May.

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