Inflation will stay at 6% to 9% until 2024, Fed’s rate hikes won’t stop that now – Steve Hanke

The U.S. Federal Reserve hiked the Fed Funds rate by 25 basis points on Wednesday, the first-rate hike since 2018.

While this move was largely anticipated, the markets still rallied on the news; both the stock markets and safe-haven assets like gold rose. The dollar fell slightly.

Steve Hanke, professor of Applied Economics at Johns Hopkins University told David Lin, anchor, for Kitco News, that the stock markets interpreted this news as quite dovish.

Source: Kitco News

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