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But officials indicated that rate hikes could come as soon as 2023, after saying in March that it saw no increases until at least 2024.
This change in stance rattled long investors since it waivers a little from the Fed’s recent claims that the recent spike in inflation is temporary.
The reports are going to have to continue to show a strengthening economy in order to support some of the Fed’s reasons for shifting the next rate hike forward.
Friday is a big day with reports on the Core PCE Price Index, Personal Income, Personal Spending and the revised University of Michigan Consumer Sentiment report.