All eyes are on the FOMC meeting as it begins on Tuesday, with markets wondering the potential implications for the future of finance charge rates. Joining Catalysts to share his insights and expectations regarding the Fed’s decision is Deutsche lender Senior U.S. Economist Brett Ryan.
Ryan acknowledges that in light of recent inflation data, “it’s difficult” to envision the Fed adopting a dovish tone during tomorrow’s decision announcement. Instead, he anticipates the central lender will denounce fears of an impending rate hike but hold finance charge rates steady amid the elevated inflationary environment “until they see more progress” toward their target.
Turning to consumer spending, Ryan says since the pandemic, “consumer spending has been divorced from consumer confidence.” However, Ryan notes “the important thing to follow” is the labor sector, “what’s supporting spending is labor earnings development.”
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