Short-Term Pain, Long-Term Gain
The FOMC hiked the Fed funds rate 75 bps at its September meeting and significantly ratcheted up its expected path for the for the Funds rate over the next few years.
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Ellen Gaske, PhD, CFA, is a Principal and Lead Economist for the G10 economies on the Global Macroeconomic Research Team at PGIM Fixed Income. Ms. Gaske joined the Team in 2004 to provide analysis of the global economic backdrop. Previously, she was a senior economist in the Firm’s Asset Liability and Risk Management Group, providing analysis of macroeconomic and financial market developments for the Firm’s Affiliated Accounts portfolio managers and strategists. Earlier, she was with the Derivative Products Group, working with the Firm’s Private Placement Group and Affiliated Accounts in designing and implementing interest rate and cross currency hedges. Prior to joining the Firm in 1996, Ellen was a Senior Economist at the Federal Reserve Bank of New York in the Capital Markets area of the Research Group and the Banking Studies Department. She received an AB in Economics from Goucher College and a PhD in Economics from the University of Maryland. Ms. Gaske holds the Chartered Financial Analyst (CFA) designation.
All information as of June 30, 2022. For purposes of the biographies, the “Firm” is defined as Prudential Financial, Inc. ("PFI"). All PGIM and Prudential named entities are subsidiaries or affiliates of PFI. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.