CIBC's chief economist talks inflation ahead of BoC decision
John Williams, president of the Federal Reserve Bank of New York, sees no ‘compelling argument to take a big step at the beginning’ of steady rate hikes
Minutes released Feb. 16 of the U.S. central bank’s policy meeting show most policymakers say faster interest rate hikes are needed if inflation does not move down
Some economists now forecast as many as six or seven quarter-point hikes this year
In contrast, the ECB doesn't plan to raise rates until 2023 despite record inflation
The central bank also said it would phase out its monthly bond purchases in March
Some economists have expressed concern that the Fed is already moving too late to combat high inflation
Policy normalization and geopolitical threats are risks to growth
For consumers, inflation has become the most important economic issue
The Fed chair said Tuesday that inflation poses a major threat to the job market