The Fed’s 75-basis point rate hike avoids market volatility and should be able to keep inflation from going higher, Spartan’s Peter Cardillo tells WSJ. “It boils down to one thing, they are going to raise rates at a faster pace,” he says. “This tough talk is probably going to calm the markets, at least the bond market, in the intermediate future.” Cardillo expects higher prices to dent consumption, helping the Fed to fight inflation. “You have a Fed that is going to send us in a recession. That itself will drastically cut consumer spending” and weaken prices,” he says.