Pictet Wealth Management Says Market Expectations for Fed Rate Hikes Are Too High

Pictet Wealth Management points out that the market's pricing probability for Federal Reserve rate hikes is unusually high. Senior U.S. economist Xiao Cui stated that while the risk of an unexpected rate hike cannot be completely ruled out, the current market pricing seems excessive. The latest U.S. inflation data and comments from Federal Reserve officials have reinforced expectations that the Fed will keep rates unchanged at 3.5% - 3.75% this week. Cui also believes that Logan and Harker from the committee may cast dissenting votes in favor of a 25 basis point rate hike, and Kashkari may join this camp as well.

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