More rate increases could be in the pipeline based on the latest economic outlook
Reasons include supply bottlenecks, 38% rise in energy prices
Inflation and the war in Ukraine may curb consumer spending this year
Slower normalization could increase divergence in foreign exchange rates
BMO expects a Fed rate hike of 50 bps in May as inflation cuts spending power
In a speech on Thursday, the U.S. Treasury Secretary also advocated for maintaining the dollar's prominence
Unemployment dropped to its lowest rate since the pandemic erupted
Trading was under heavy restrictions after the month-long shutdown
Stocks last traded on Feb. 25, the day after the invasion started
The country has about $40 billion in foreign currency debt