Fed will have 'zero patience' for high inflation readings, economist

Fed will have ‘zero patience’ for high inflation readings, economist

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U.S. inflation is still likely to come down “in coming months” but the Federal Reserve has “zero patience” and will continue to hike its benchmark interest rate by 0.75 percentage points in July and September, said Tom Porcelli, chief U.S. economist at RBC Capital Markets.

“A 75 basis point hike is teed up for July and there’s a potential for a full 100bp move although the Fed doesn’t necessarily want to do that,” Porcelli said.


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