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Mr Volpon reckons the interest rate will hit 10.75% come the autumn.
The Fed and many private economists predict the jobless rate will hit 10percentt by the end of this year.
Raising the benchmark rate will hit them especially hard at a time when many of them are struggling to repay previous loans and avoid laying off workers.
Although economists predict the unemployment rate will hit 9.8percenttheyhey are also hoping that the pace of job losses will slow to 180,000.
Some economists now predict the unemployment rate will hit 10percentt by year-end, and peak at 11percentt or higher by the middle of 2010.
At some point in 2015 the dollar-euro exchange rate will hit parity.A stronger dollar and slower growth in the emerging world will also hit share prices.
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Smaller independent retailers say the new wage rates will hit them disproportionately.
The world's population topped six billion in 1999 and, at current rates, will hit seven billion in 2013, eight billion in 2028 and nine billion in 2048.
There is a risk that higher interest rates will hit consumer and business confidence if there is a fear of further hikes to come.
"Higher gas prices, combined with higher interest rates, will hit consumers' wallets, and that will slow -- not stop -- auto sales and probably cause a shift in the vehicle mix," Mr. Littmann said.
In his defence Carney can cite warnings from the central bankers' club, the Geneva-based Bank of International Settlements, which worries that negative interest rates will hit commercial bank profits hard and undermine their ability to make loans.
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