Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says

US Federal Reserve Chairman Jerome Powell attends his re-nomination hearing at the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill, in Washington, US, January 11, 2022. Graeme Jennings | Reuters Accelerating inflation could cause the Federal Reserve to become more aggressive than economists expect in the way it raises interest rates this … Read more

Retail sales December 2021:

A family of shoppers exit Walmart with a full shopping cart on November 26, 2021 in Westminster, Colorado. Michael Siaglo | Getty Images The Commerce Department reported on Friday that retail sales fell much more than expected in December as higher prices led to a significant increase in spending. The advance monthly sales report to … Read more

Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes

Philadelphia Fed President Patrick Harker said Thursday that he expects three or four rate hikes this year likely to fight inflation. His reasoning, outlined in a live interview on CNBC’s “Closing Bell,” aligns with the Federal Open Market Committee’s policy-making estimates released in December. But while officials then identified the possibility of three-quarters of a … Read more