Jefferies global economist Mohit Kumar said he expects the Fed to raise rates
this week and that remarks from Fed governor Christopher Waller will be pivotal
for the outlook. Jefferies sees fewer actual hikes than the forward market’s
roughly 3.5 additional hikes priced in. Kumar said a first increase may be
needed for credibility, but subsequent hikes will hinge on how long the war
lasts and on oil-price developments.
