Jefferies expects the Federal Reserve to raise interest rates this week, with Waller's comments being key.

Jefferies global economist Mohit Kumar stated in a report that the Federal Reserve is expected to raise interest rates this week and considers Waller's comments to be key. He said: "We expect the Federal Reserve to raise interest rates, but Waller's comments on the future policy direction will be crucial." Regarding further rate hikes, Jefferies believes that the actual actions taken by the Federal Reserve will be fewer than the 3.5 rate hikes anticipated by forward markets. Kumar said: "From a credibility perspective, the first rate hike may be necessary, but subsequent hikes will depend on how long the war lasts and the trend in oil prices."