# Federal Reserve preview: A final hike as US recession fears mount | articles | ING THINK

> ING expects the Federal Reserve to deliver a final 25bp hike at its May 3 meeting, as banking stress tightens lending conditions. The bank says the need for higher rates is questionable and forecasts 100bp of cuts before year-end. The preview cites an unemployment rate of 3.5% and a strong first-quarter consumer spending reading.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36301-federal-reserve-preview-a-final-hike-as-us-recession-fears-mount-articles-ing
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of an end to hikes and future cuts point to a weaker dollar and firmer risk appetite, which typically supports dollar-denominated commodity prices.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2022-03-16 | [FX Daily: Fed rate hike may play second fiddle amid multiple drivers \| articles \| ING THINK](https://feedsoft.ai/events/42500-fx-daily-fed-rate-hike-may-play-second-fiddle-amid-multiple-drivers-articles.md) | -1.0% | -0.7% |
| DXY | 2020-05-12 | [More Accommodation Coming from the Federal Reserve? - ADM Investor Services](https://feedsoft.ai/events/53038-more-accommodation-coming-from-the-federal-reserve-adm-investor-services.md) | -0.4% | -3.8% |
| DXY | 2026-03-30 | [EUR/USD: Real interest rates still important \| articles \| ING THINK](https://feedsoft.ai/events/20373-eur-usd-real-interest-rates-still-important-articles-ing-think.md) | -0.2% | -1.8% |
| DXY | 2021-04-28 | [FX Daily: The patient Fed and the “nervous” dollar \| articles \| ING THINK](https://feedsoft.ai/events/47788-fx-daily-the-patient-fed-and-the-nervous-dollar-articles-ing-think.md) | +0.3% | -1.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/federal-reserve-preview-a-final-hike-as-us-recession-fears-mount/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.