Most Federal Reserve officials agreed last month that surging inflation and an incredibly tight labor market could warrant a faster-than-expected pace of interest rate hikes this year.
and an incredibly tight labor market could warrant a faster-than-expected pace of interest rate hikes this year as policymakers look to combat soaring prices.
"With inflation well above 2% and a strong labor market, the committee expects it will soon be appropriate to raise the target range for the federal funds rate," the Fed said in its post-meeting statement last month. "There’s nothing really concrete when it comes to a timeline, so there’s still a big question mark there," said Mike Loewengart, managing director of investment strategy at E*Trade. "But the bottom line is rate hikes are coming, and they’re coming soon. Investors should keep in mind that even with a few hikes, rates will remain very low by historical standards, so while they may create volatility, in the long term investors should take it in stride.
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