How fast will the FOMC raise interest rates?
With CPI inflation in the US exceeding 8% year-on-year in March and with interest rates at 0.25%-0.5% the Federal Reserve is in a tightening mode, having first hiked rates by 25bps on 16 March. But how fast might it raise interest rates from here? To address this question, it is useful to review how the Fed has behaved in past tightening episodes.
