A 50-basis point (bps) interest rate hike is warranted at the Fed’s March meeting, Anna Wong, Chief US Economist for Bloomberg Economics said on Wednesday.

“Our in-house model of a Fed reaction function -- the Bloomberg Economics rule ("BE rule") -- suggests that a 50 basis-point rate hike at the March meeting is warranted, followed by another five 25 basis-point rate hikes the rest of the year,” she explained.

developing story ....