[“Fed’s Mouthpiece”: December Rate Hike Almost a Certainty, Focus Shifts to Pace] BlockBeats reports on November 11th that Nick Timiraos, chief economics reporter for the Wall Street Journal and often referred to as the “Fed’s mouthpiece,” wrote that after the release of the third consecutive strong inflation report, a December rate hike by the Federal Reserve is virtually a certainty. The real question is how fast it will proceed: will it continue with 25 basis point hikes at each meeting, a one-time 50 basis point hike, or will it signal multiple consecutive 25 basis point hikes? Timmiraos stated that a rate hike at the December 8-9 meeting is almost a certainty. The bigger question is how quickly the central bank will act, and whether this is still a mild adjustment to the two or three more rate hikes envisioned by many officials, or the beginning of a longer period of action to curb the economy and suppress inflation. Last week, Federal Reserve Governor Waller, who supported keeping rates unchanged, stated before yesterday's data release that if core prices rose by about 0.3% month-over-month in October, a 50-basis-point rate hike should be considered in December, a scenario that was precisely what the data showed. Dallas Fed President Logan also hinted after the data release that, given current inflationary pressures, it might be necessary to accelerate the pace of rate hikes; such tactical choices are typically decided by the Fed Chair. [Original Link]