Cookie settings
Picture
Contactez-nous
Picture

The Fed turns hawkish, betting on a strong labour market

En bref

The widely announced hawkish pivot turned out to be more aggressive than expected by many. The Fed considers that the US economy is -and will be over the coming three years- strong enough to withstand not just the rapid end of bond purchases (which will stop by mid-March), but also eight rate hikes within three years.

Highlights:

  • In line with expectations the Fed will accelerate the tapering. The new scheduled path will lead to zero net pur-chases by mid-March. The shrinking of the balance sheet has not been discussed yet, but it is likely to occur quickly than in the past.
  • An unprecedentedly strong labour market and a persistent overshooting of the inflation target would require, according to the FOMC, three rate hikes in 2022 and 2023 and another two in 2024. This will allow the economy to continue to growth above potential and with unemployment at an historical low for three years.
  • Inflation projections for 2022 were revised substantially higher, and the steep policy rate path announced today is aimed at preventing the deanchoring of expectations, which has overtaken full employment as a policy priority.

Download the full publication below

The Fed turns hawkish, betting on a strong labour market
Notre Offre
Investissement Responsable
Actualités
Nous Connaître
Contactez-Nous
Picture
Picture
Picture

© Generali Investments, tous droits réservés. Ce site internet est publié par Generali Investments et est considéré comme une communication marketing et une promotion financière liée aux produits et services des sociétés du groupe Generali suivantes : Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. et Generali Investments Holding S.p.A. (ci-après dénommées ensemble Generali Investments). En outre, le site peut contenir des communications de marketing et de promotion financière de produits et services de sociétés faisant partie de la plate-forme Multi-Boutiques coordonnée par Generali Investments Partners S.p.A. Società di gestione del risparmio, et en particulier de Infranity, Sycomore Asset Management, Aperture Investors LLC, Plenisfer Investments SGR, Lumyna Investments, Sosteneo Infrastructure Partners SGR, Axis Retail Partners S.p.A. et Generali Real Estate S.p.A. Società di Gestione del Risparmio.

Informations juridiques
Politique en Matière de Cookies
Politique de Confidentialité
Conditions Générales
Droits d’Auteur
Glossaire