Hammack calls for immediate rate hikes to curb above-target inflation
Mike Fratantoni, SVP and chief economist at the Mortgage Bankers Association (MBA), told Mortgage Professional America following the July vote that the committee’s direction has become unmistakable.
“The FOMC’s decision to hold the federal funds target at its current level, coupled with the three dissents at this meeting, with each of these dissenting members preferring to hike rates now, indicates that the Fed is likely moving into a hiking cycle soon,” he said.
Hammack is not waiting for the data to make the case for her. “Nothing would make me feel better than to be wrong,” she told Yahoo Finance. “But from where I sit, I just don’t see it coming back on its own.”
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