“Rising inflation and tight labor markets are intensifying the case of early and rapid normalization of monetary policy,” Moody’s said in a new report.
“Certainly, despite the growth risks of the Omicron surge, the Fed is in a good position to move to a neutral financial stance from March 2022, this year compared to November’s expectations. We anticipate three US rate hikes until 2023, “according to US media reports.
Despite the sharp rise in COVID-19, US interest rates are expected to continue to rise due to strong economic conditions and inflation, according to Moody’s Investors Service. ‘And the interest rate is’very negative’.
Moody’s said the recent signal shift from the Fed shows “broad support” for both the March rate hike and the normalization of the balance sheet shortly after the start of the rate hike cycle.
Moody’s continues to expect gross domestic product to increase 4.4% this year after a 5.4% increase in 2021.
Moody’s said, “The surge in virus cases will undoubtedly undermine the economic activity of the pandemic-sensitive services industry in January, but as the previous surge in viruses has shown, it will be active as the Omicron wave begins to subside. Will recover. “
The report states that the latest epidemiological forecasts show a peak in case numbers by the end of the month, with hospitalizations and deaths peaking in mid-February.
Inflation is expected to ease this year, but Moody’s said there remains considerable uncertainty in inflation forecasts.
Rating agencies expect the Fed to withdraw its stimulus package and take a “measured approach” to normalize its balance sheet.
Fiber2Fashion News Desk (DS)
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U.S. economic growth on a solid path despite Omicron: Moody’s
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