ASU economist shares Fed forecast

To get a deeper understanding of everything that makes Federal Reserve rate hikes important, ASU economist Lee McPheters answers these questions, including whether the war in Ukraine affects the timing of the rate hikes.

To get a deeper understanding of everything that makes Federal Reserve rate hikes important, ASU economist Lee McPheters answers these questions, including whether the war in Ukraine affects the timing of the rate hikes.

In this story published March 8, 2022, on WalletHub:

Prices at the pump were on the rise even before sanctions were imposed on Russia, illustrating the strong power of expectations on energy markets. Moreover, the public sees gasoline prices as an independent indicator of inflation and the effectiveness of the administration and its policies. The Fed needs to be seen as responding to rising inflation, so will press ahead and will press ahead even as the situation in Ukraine deteriorates.

– Lee McPheters, research professor of economics and the director of the JPMorgan Chase Economic Outlook Center