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Cathie Wood Says Fed Won’t Hike as Much as Market Priced In

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Reuters

Traders bet Fed to go bigger, but Mester says not so fast

(Reuters) -With expectations for a half-percentage point rate hike at the Federal Reserve’s May meeting now locked in, traders on Friday piled into bets that the central bank will go even bigger in subsequent months, but one Fed policymaker pushed back, saying a more “methodical” approach was appropriate even in the face of too-high inflation. “You don’t need to go there at this point,” Cleveland Fed President Loretta Mester told CNBC, referring to possibility of a 75 basis point rate hike. Traders are now pricing in two such outsized rate hikes, at the Fed’s June and July meetings.

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