Jeffrey Rosenkranz Joins GOBankingRates to Discuss the Fed’s Fourth Consecutive 75 Point Rate Hike
As expected, the Federal Reserve Board’s Federal Open Market Committee (FOMC) said in a statement on Nov. 2 that it decided to raise the target range for the federal funds rate to 3.75% to 4% and anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time.
This leaves the question, will rate hikes slow down in the future? Jeffrey Rosenkranz, Portfolio Manager, Shelton Capital Management, told GOBankingRates, “For the first time during this rate hike cycle, the Fed has explicitly acknowledged they will take into consideration both the cumulative effect of their policies, and the concept that it operates on a lagged basis. While this is well-understood by economists and market participants, the new addition to FOMC language is a nod to an eventual pause.”
Read the whole article here: Fed Hikes Rates 75 Basis Points for Fourth Time — What Does the Historic Move Mean for You?
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