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How much further the Fed will raise interest rates this year?

ByFederica Montella
Published 30/03/2023, 12:31
Updated 28/07/2023, 11:55

Wall Street went up yesterday

Wednesday has been a positive day for the US stock market.

All three major US indexes closed in profit.

The S&P 500 finished at +1.42%, the Nasdaq ended the trading session at +1.79% and the Dow Jones closed at +1.00%.

The investors' sentiment is Fear, as indicated in the graph below:

Sentiment indicator - Fear & Greed Index

The market sentiment is 41, in “Fear” mode, the same as last week, but it is slowly improving towards the Neutral mode.

How much further the central bank will raise interest rates this year?

This is the question that US lawmakers asked Jerome Powell, the Federal Reserve president, during a private meeting on Wednesday.

Mr Powell said that the Fed is planning to increase the interest rate one more time this year.

The next Fed meeting will be held on 3 May and based on the current situation the majority of the economists, 58,4%, are expecting no rate increase.

The remaining, 41,6% of the economists are forecasting a rate increase of 25 basis points.



What to watch today

U.S. Gross Domestic Product (GDP) will be released today at 13:30 GMT.

It is expected to remain at 2.7%.

At the same time will also be published the weekly US initial jobless claims, which are forecasted to be 196,000, 5,000 units up from last week's data.

Financial markets could be volatile.

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