So much for 25 basis points

Inflation isn’t behaving. The Fed's goal is 2%. There is a lot of daylight between that and the current inflation rate of 6.4%. 

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All about the data
Welcome to the Know the Difference Minute for Tuesday, March 7th. Springsteen Day.
Fed Chairman Jerome Powell was in front of the Senate Banking Committee today and shared the central bank is prepared to raise rates higher than previously expected and pick up the pace of increases.
Back to the data. Just about everything is coming in hotter than expected. January’s jobs report was a blowout. Inflation is sticky. Prices remain high. Consumer spending is still strong. While CPI has come down since June’s high, it’s three times higher than pre-COVID.
The CME Group’s FedWatch tool has 50% of traders expecting a 50 basis point jump in a couple weeks.
As much as the Fed has done, inflation isn’t behaving. The goal is 2%. There is a lot of daylight between that and the current inflation rate of 6.4%.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.