The Fed's Rate Hike Signaling Draws Criticism from Economists with Different Views.

Two leading economists, Steve Hanke and Cam Harvey, have criticized the Federal Reserve's hawkish stance on rate hikes, arguing that inflation is already conquered and that the Fed's continued tightening will likely drive the US into an unnecessary and possibly steep recession. Hanke believes the Fed is fixated on lagging indicators like core inflation and the state of the job market, while Harvey focuses on the yield curve, which is currently inverted and spells trouble for banks. Both economists agree that the Fed is using the wrong model and should rely on forward-looking metrics instead.