85 of 102 economists polled by Reuters said that they see the US Federal Reserve hiking the policy rate by 50 basis points (bps) in May and 56 of them noted that they expect another 50 bps in June.
Further details of the survey showed that the probability of a US recession in one year and in two years stands at 25% and 40%, respectively.
Finally, experts see the Consumer Price Index (CPI) averaging 6.8% in 2022; 3.0% in 2023 and 2.5% in 2024.
Market reaction
The US Dollar Index showed no immediate reaction to this headline and was last seen posting small daily losses at 99.72.
