- The Fed unanimously raised its benchmark rate by 25 basis points, with above-target inflation and geopolitical uncertainty cited as drivers.
- Bank of America's Joe Quinlan says elevated diesel prices are a particular concern for businesses and keep pressure on the Fed for further hikes.
- The mix keeps a tightening bias on rates and flags diesel-driven inflation as a live macro risk.
Quotes
“The Federal Reserve unanimously raised its benchmark rate by a quarter point as policymakers confront inflation that remains above target and uncertainty tied to geopolitical developments.”
“elevated diesel prices are a particular concern for businesses and could keep pressure on the Fed to raise rates further.”