Morgan Stanley economists see 2023 Fed hike

The economists sound more dovish than Morgan Stanley CEO James Gorman(pic). He expressed concern last month that “money is a bit too free and available right now,” and said the Fed should “start moving” in the first quarter of 2022.

NEW YORK: Morgan Stanley economists are sticking with their prediction that the Federal Reserve (Fed) won’t raise interest rates until 2023, breaking ranks with their own chief executive officer.

In an outlook released yesterday, strategist Andrew Sheets said his colleagues in the bank’s economics team reckon the United States central bank will end its asset purchases by the middle of next year, but won’t raise its benchmark rate from near zero until early 2023.