Fed focused more on inflation than recession: strategist

STORY: Grahn points to the recent round of strong economic reports, from the Consumer Price Index to retail sales, to show that the market continues to revise higher the expectation for the number of future interest rate hikes.

Adding to worries, Minneapolis Fed President Neel Kashkari, a voter on the Fed's rate-setting committee in 2023, said he is "open-minded" on either a 25-point or a 50-point rate hike in March. Atlanta Fed President Raphael Bostic said monetary policy will have to remain tight "until well into 2024".