Industry sets sights on 2023 as 0.75% November Fed hike 'widely expected'

Uncertain trajectory of policy

Valeria Martinez
clock • 3 min read

The asset management industry has set its sights on the future path of interest rates from next year, as a 75 basis points hike on Wednesday’s (2 November) Federal Reserve Open Market Committee meeting is “widely expected”.

Market speculation suggests the Federal Reserve is poised to slow to a more gradual approach to monetary policy tightening, with the impact of fast and aggressive interest rate hikes from the central bank becoming evident in economic data.  The US Conference Board's Consumer Confidence Index fell to 102.5 in October, reflecting consumer concerns about sticky inflation and a possible recession next year. The survey also showed signs of a cooling labour market.  Separately, October saw the fourth consecutive month of contraction in US business activity, with the US Composite Purchasing ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Bank of England commits to economic forecasting overhaul following Bernanke review

Bank of England commits to economic forecasting overhaul following Bernanke review

'Substantial' upgrade programme

Valeria Martinez
clock 12 April 2024 • 2 min read
Ben Bernanke urges Bank of England to upgrade 'out of date' forecasting infrastructure

Ben Bernanke urges Bank of England to upgrade 'out of date' forecasting infrastructure

Publication of ‘alternative scenarios’

Valeria Martinez
clock 12 April 2024 • 3 min read
IMF managing director warns central banks to 'resist' calls for early rate cuts

IMF managing director warns central banks to 'resist' calls for early rate cuts

Banks on ‘final stretch’ of inflation battle

Eve Maddock-Jones
clock 12 April 2024 • 2 min read
Trustpilot