(WASHINGTON D.C.) – BMO Capital Markets chief investment strategist Brian Belski weighs in on the Federal Reserve rate hikes and market volatility. The Federal Reserve is expected to begin raising interest rates this week for the first time in three years as policymakers look to cool red-hot inflation, a move that comes at a precarious time for the U.S. economy as it confronts a continuing pandemic and a war in Europe.

The U.S. central bank is almost certain to raise its benchmark federal funds rate by at least a quarter of a percentage point at the end of its two-day policy-setting meeting on Wednesday. Investors will also be closely watching new projections showing how fast Fed officials believe they need to raise rates this year to prevent soaring inflation from becoming entrenched.

In December, most officials predicted that rates would hover around 2.10% by the end of 2024. Danielle DiMartino Booth, the CEO of Quill Intelligence and a former advisor to the Dallas Fed president, predicted a ” …

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