Fed: Inflation data indicate smaller rate hikes – Commerzbank
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US inflation moderated in October. Economists at Commerzbank expect a slower Fed pace as inflation has probably peaked and is falling again.
“US consumer prices rose by only 0.4% in October, less than expected. The inflation rate fell further to 7.7%.”
“Evidence is accumulating that inflation has peaked and is now falling again. The Fed’s next rate hike is therefore likely to be smaller.”
“We maintain our forecast that the Fed will raise rates by only 50 basis points at the next meeting on December 13/14. Even smaller steps are to be expected at the beginning of 2023.”
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