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Citi Economists Predict 50-BP Rate Hike from Fed Next Month 

Citi economists now expect the Federal Reserve to make a more aggressive 50-basis-point hike in the federal funds target rate in March, CNBC reported Thursday. The bank made its forecast after January’s consumer price index rose by an annualized 7.5%, up from a 7% gain in December. 

Wall Street economists have been expecting a quarter-point hike for March. As recently as Jan. 28, Citi called for five 25-bp rate hikes in 2022, starting next month. 

However, the fed funds futures market began pricing in a more likely chance of a half-point rate hike next month after the inflation report and hawkish comments from St. Louis Federal Reserve President James Bullard. Bullard told Bloomberg News he’d like to see a full 100-bp hike by July. 

“We now expect the Fed to raise rates 50 bp in March followed by four 25-bp hikes in May, June, September and December,” wrote the economists. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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