The US Federal Reserve (the Fed) is adopting a more “hawkish” approach to interest rates.
Charles Hepworth, investment director, GAM Investments, described the Fed’s latest meeting as the “most important” of the year.
The majority of the Federal Open Market Committee (FOMC), 13 out of 18, now see one hike at least by the end of 2023, up from seven members just three months ago. Eleven members see at least two hikes in this period.
Mr Hepworth explained: “The steady pr...