The Federal Reserve is poised to keep interest rates on hold “for the foreseeable future” and could even boost borrowing costs, as central bankers await clarity on Donald Trump’s policies, said bond fund giant Pimco.
Dan Ivascyn, the $2tn asset manager’s chief investment officer, said he expected the US central bank to keep rates steady until there was “more clarity either on the data front or the policy front”.
Ivascyn’s remarks come as a debate swirls on Wall Street about the future of Fed’s rate rate-cutting cycle over concerns that if Donald Trump follows through on his plans to enact sweeping tariffs, it could fuel higher inflation at a time when the US economy has proved more resilient than expected.
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