For the first time since the start of the Covid pandemic in February 2020, the American central bank is expected to raise its main key rate this Wednesday evening by 0.25%.
The Fed has just ceased its purchases of public debt and bonds secured by real estate claims, which began in March 2020. Ultimately, it will thus have accumulated some 4,800 billion dollars in claims.
What more than double its balance sheet.
After Wednesday's first rate hike, Wall Street is pricing in multiple hikes over the next few months.
The surge in inflation, evident for more than six months, has too long seemed "transitional" to the Fed.
The latter did not listen to the monetarists who, for more than a year, have been alarmed by the sharp rise in the money supply.
Out of fear of a prolongation of the pandemic, out of conviction that the fight against unemployment was more urgent than the prevention of inflation, the Federal Reserve fell seriously behind by leaving…
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