S&P Global's chief economist expects Fed's fund rate to rise to 4%

This could result in a further rise in bond yields in major economies including India

The global rating agency S&P Global expects the United States Federal Reserve policy rate or the fed fund rate to rise to as high as 4 per cent as it fights a policy battle to bring down inflation in the world’s biggest economy. The US central bank has already raised its policy rate four times this year for a total of 225 basis points. One basis point is one-hundredth of a per cent.

“The core consumer inflation remains persistently high in the United States and the emerging consensus among economists is that Fed may have to raise its policy rate