Jeffries economists are also calling for a 75 basis point rise in Fed interest rates next week

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Economists at Jeffries, like those at Barclays, now expect the Federal Reserve to rise 75 basis points at its June 14-15 policy meeting “when inflation expectations begin to erode.” In a comment, Jeffries’ economists Anita Markowska and Thomas Simmons wrote that Friday’s inflation data — both the consumer price index and UMich’s inflation expectations — “are a game changer that will force the Fed to shift gears and tighten front-end policies.” By Friday, economists had expected the Fed to provide three 50-point interest rate hikes in June, July and September.

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