Economics
What Do We Need to Give the Fed's Hawks More Room to Fly?
And the doves get ready to overshoot on inflation.
Fed Can Still Pack a Surprise as Markets Expect No Change
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The author is the professor of practice and senior director of the Oregon Economic Forum at the University of Oregon and the author of Tim Duy's Fed Watch.
The doves at the Federal Reserve will rule the roost again this week. But the hawks grow increasingly restless and their concerns will look more valid, assuming the economy gains further ground in the final months of the year. December remains on the table at this point – which, if it happens, would correspond to a pace of one 25 basis-point rate hike a year. Welcome to the new normal.