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BofA and Harris have issued the most aggressive Fed call on Wall Street for this year. The bank’s economists see seven quarter-percentage-point rate hikes in 2022, followed by four more next year.
“I actually think it’s not a radical call,” Harris said of the bank’s expectation for 11 hikes through 2023. “It’s just the path of least resistance for a central bank that’s starting at zero.”
originally posted by: JAGStorm
The other thing I noticed is that my bank is now offering mostly adjustable rate loans. Before they offered many fixed rate loans for
mortgages.
There is basically a whole generation that doesn't know anything but low rates. This is going to cause a whiplash to the whole system.
originally posted by: AugustusMasonicus
a reply to: JAGStorm
Interests rates have been way too low for way too long. It's overdue that they do up to a more reasonable level.
originally posted by: AugustusMasonicus
a reply to: JAGStorm
Interests rates have been way too low for way too long. It's overdue that they do up to a more reasonable level.
Serious question
Okay so explain why 7 little incrementally hikes are better than say 2 or 3 or even 1 big hike rip the bandaid off.
originally posted by: rickymouse
What? You mean that we will actually get some interest on our savings accounts by the end of the year?
I'd say it's looking like a recession late this year, early next year. Hopefully it's just a recession and not runaway inflation