The Federal Reserve is expected to deliver two back-to-back half-point interest rate hikes in May and June to tackle runaway inflation, according to economists polled by Reuters who also say the probability of a recession next year is 40 percent.
With the unemployment rate near a record low, inflation the highest in four decades, and a surge in global commodity prices set to persist, most analysts say the Fed needs to move quickly to keep price pressures under control.
