Independent economist Warren Hogan says there will be a lot more “financial instability” in the coming months as central banks pause interest rate rises instead of cutting them.
“The Fed’s communications tonight are critical to really put to bed the idea that they are worried about this financial instability and that will change the course of their interest rate policy,” Mr Hogan said.
“No – they are focused on inflation and the most important thing the Fed tomorrow is going to do is remind the market of that.”
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