Fed likely to hike Big rate in July 2022 

FED expected to hike the rate aggressively by about 0.75% to 1% in the coming meeting on July 26-27 

The inflation rate accelerated to 9.1% in June of 2022, the highest found since November 1981

Fed cut the 2022 GDP growth estimation from 2.8% to 1.7% and for 2023 GDP growth estimation from 2.2% to 1.7%

Fed aggressive takes steps to curtail Inflation and Boost GDP growth.  

The hike will reflect increased expenses for fuel and food so people will eventually start spending less. There are also rises in rent, airlines fare, and a variety of other services effected.

FOMC meeting on July 26, bond pricing indicates a 90% chance for another 75 bps rate hike and CME Group indicates a 9% chance of a 100 bps rate hike.