Fed's Hawkish Stance and Resilient Growth: PMI Surges as Dollar Rallies

• Fed Funds Rate: 3.75%-4.00% after 25bp hike
• Inflation: Elevated, above 2% target
• S&P Global PMI: Composite at 58.4, signaling expansion
• US Dollar Index: Near 101.00, two-month high

The Checkup

Federal Reserve officials Susan Collins and Thomas Barkin both defended last week's rate hike, with Collins stating a "somewhat more restrictive policy" is needed to bring inflation back to 2%. Barkin noted that "inflation risks outweigh those to maximum...