Kevin Hassett, a senior White House official, publicly criticized Federal Reserve officials advocating for further interest rate hikes. The Fed recently raised its benchmark rate by 25 basis points to a target range of 3.75% to 4.00%, marking the first rate hike since 2023. This decision aligns with the institution’s projections of a median rate of 4.1% by the end of 2026, suggesting potential for additional hikes. Market expectations now place the probability of another 25 basis point increase at the October 2026 meeting at 63.5%, down from initial forecasts.
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