Well at least they're getting it over with. The expectations now look like 3/4 point this week, another 3/4 in July, then 1/2 in Sept, and some combination of 1/2 or 1/4 each in Nov and Dec, depending on the data (no Fed meeting in Oct).
Front loading it is probably not such a bad idea since rates were/are so ridiculously low. Better to get on top of the inflation aggressively and then back off later if the economic numbers start to tank.
Of course a better solution would be to just end the war in Ukraine, which would quickly cut the inflation rate in half. But that's too logical for the current brain-addled world leadership to grasp.
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