Would the Fed really hike rates here? This is what would have to happen
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The Federal Reserve raising interest rates further would require a significant bump in prices and a change in consumer and business expectations. New York Fed President John Williams stated that he doesn't expect a rate hike to happen, but it's always an option. The central bank has faced high inflation data, but policymakers have indicated a patient, data-driven approach and the need for greater confidence before moving ahead with easing. If inflation were to reaccelerate, Chair Jerome Powell and the FOMC may have to increase rates to avoid a repeat of the 1970s. Currently, only Fed Governor Michelle Bowman has given any credence to the notion of raising rates. Fed funds futures markets are not pricing in any possibility of an increase this year. However, sticky or resurgent inflation data could force further changes.

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