Jim Smigiel, an analyst at Seic (ticker: SEIC), a U.S. Nasdaq-listed financial services company, analyzed that the Fed's likelihood of further interest rate hikes is low. He explained, "The Fed has a dual mandate of price stability and maximum employment, and therefore must consider that interest rate hikes could have a negative impact on the economy and the job market." In contrast, he assessed that some global central banks, such as the ECB, have a structure that focuses more on price stability, making further tightening relatively more likely. However, he added, "Major central banks are also concerned about exchange rate and capital market instability, and thus are highly likely to eventually follow the Fed's policy path to a significant extent."
