World Economy

Fed Feels Its Time to Hike

Fed Feels Its Time to HikeFed Feels Its Time to Hike

The US Federal Reserve this week is poised to raise its benchmark interest rate amid burgeoning job growth and a surge of market optimism since President Donald Trump took office, France24 reported. Central bankers on Friday likely got the final push they needed, if they were in any doubt, after a strong employment showing 235,000 net new jobs created in February and the unemployment rate moving down a tenth of a point to 4.7%. Even before the jobs report, and despite lingering questions about Trump’s economic agenda, key figures on the Federal Open Market Committee, which sets the federal funds rate, were sending clear signals that a rate increase was likely. The FOMC is due to announce its decision at the end of the two-day meeting on Wednesday. Fed Vice Chairman Stanley Fischer said recently that if there had been a “conscious effort” among Fed members to raise the public’s expectations, “I’m about to join it.”


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