Business & Finance
US Asset Manager PGIM Flips Fed View, Sees Three Hikes This Year
Key Points
US Asset Manager PGIM Flips Fed View, Sees Three Hikes This Year US asset manager PGIM has staked out the fringe view that the Federal Reserve will raise interest rates three times this year to put the brakes on the economy — then reverse the hikes in 2027. In a mid-year outlook released last week, the investment management business of Prudential Financial Inc. — which as recently as April was looking for Fed rate cuts this year — said a “remarkably resilient” US economy and sticky inflation...
US Asset Manager PGIM Flips Fed View, Sees Three Hikes This Year
US asset manager PGIM has staked out the fringe view that the Federal Reserve will raise interest rates three times this year to put the brakes on the economy — then reverse the hikes in 2027.
In a mid-year outlook released last week, the investment management business of Prudential Financial Inc. — which as recently as April was looking for Fed rate cuts this year — said a “remarkably resilient” US economy and sticky inflation called for a new approach.