NEW YORK: Morgan Stanley economists are sticking with their prediction that the Federal Reserve (Fed) won’t raise interest rates until 2023, breaking ranks with their own chief executive officer. That’s because they expect inflation to moderate and participation in the labour market to show a sustained rise, Sheets said. The economists sound more dovish than Morgan Stanley CEO James Gorman(pic). In May, he said the Fed would begin tapering its bond buying at the end of this year, while his economists said it would begin in April 2022. The Fed this month announced taper plans.

Source: The Star November 15, 2021 09:07 UTC