Fed Hike Before December? Ben Emons Says Data, Not Midterms, Decides

FedWatch Advisors founder Ben Emons says markets are underpricing a Fed hike at the October meeting. He expects one or two more hikes, arguing inflation pressure is still building. Markets lean toward a hold at the Oct. 27-28 meeting, after the Federal Reserve raised rates to 3.75%-4.00% in September. Emons told CNBC’s Fast Money on Friday that Fed speakers and September’s 3.7% inflation reading imply higher odds. Do the Midterms Really Matter to a Fed Hike? The midterm elections are not a consideration for this Fed, Emons says. Policymakers want real-time data over lagging figures, he argues, and that takes time. Fed Chair Kevin Warsh told the International Monetary Fund’s managing director the Fed wants more on-the-ground data, Emons said.

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