I Prayed have prayed
Father, we pray for our economy and for the Fed, that you would help us get inflation down but also keep us from going into a recession. Also, give us leaders, Lord, who have your heart, mind and wisdom on the economy.

These rate hikes will address rapid inflation, but it is widely known they could spark a recession in the U.S.

From CNBC. Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well.

Who is praying on the wall?


Central bank policymakers are entertaining the idea of a 75 basis point increase to the Fed’s benchmark funds rate that banks charge each other for overnight financing, according to CNBC’s Steve Liesman.

Changes in the economic outlook, including the likelihood that inflation hasn’t peaked and is running well ahead of the Fed’s 2% goal, could influence a bigger rate move during the two-day meeting that concludes Wednesday.

A 75 basis point move is “a real distinct possibility,” Liesman said….

Market pricing reflected the changed expectations.

The CME Group’s Fed Watch tool, which had been strongly pointing to a 50 basis point hike this week, was showing a 96% probability of a 75 basis point move as of Monday evening.

In recent days, traders in the interest rate futures market have been cranking up their bets that the Fed will go beyond its traditional 25-basis-point hiking pattern.

Recent jumps in bond yields have pointed to the possibility of a more aggressive Fed at the conclusion of the two-day Federal Open Market Committee meeting Wednesday.

The 10-year Treasury yield shot up to 3.37% Monday, a surge of 21 basis points, while the 2-year yield, which mostly closely tracks Fed intentions, accelerated to 3.34%, a jump of nearly 30 basis points. A basis point is one one-hundredth of a percentage point.

The Fed uses interest rate increases as a way to tamp down demand, which has generated inflation levels running at more than 40-year highs. Markets expect the central bank to continue jacking up rates through at least the end of the year as it tries to pull inflation down nearer its 2% target….

Friday’s consumer price index report showed headline inflation in May running at an 8.6% pace. That same day, the University of Michigan’s widely followed consumer sentiment gauge fell to an all-time low, and the report also indicated a ramping up of inflation expectations….

How are you praying for the economy? Share your thoughts and prayers below.

(Excerpt from CNBC. Photo Credit: Canva)

Comments (2) Print


Leave A Reply

Your email address will not be published.

Elder Paula Tolefree
June 15, 2022

Lord God
we need Your help today. We have so many leaders that are already destroyed and corrupt. Lord sand Your Holy Spirit in a leader to give to us. We need someone to care about our Country knowing taht there would be a lot of work to do and do not allow the enemy Satan to take over our Country because he hates all human beings that God created and since he is a loser who he is angry and that leadership spirit is what we do not want. LORD HOLY ANOINTED, HOLY WISE, LOYAL , FAITHFUL GOD…..Help us, please Sir God, help us Father God. Amen


Partner with Us

Intercessors for America is the trusted resource for millions of people across the United States committed to praying for our nation. If you have benefited from IFA's resources and community, please consider joining us as a monthly support partner. As a 501(c)3 organization, it's through your support that all this possible.

Dave Kubal
IFA President
Become a Monthly Partner


Click below to share this with others

Login to Join the Conversation

Create an IFA account or login to comment, pray and interact with our community.