The Federal Reserve could raise interest rates to 3.5% by the middle of next year to curb spiralling inflation, tipping the world economy into a recession, according to the Economic Strategy Unit of Tisco Financial Group (Tisco ESU).
Komsorn Prakobphol, head of Tisco ESU, said the Fed is rolling out rate hikes to curb rising inflation, which is partly attributed to the Russian invasion of Ukraine.
Recently the interest rate futures market suggested the Fed may raise interest rates to 3% by the end of this year and 3.5% by the middle of next year.
