Jennifer Lee, economist at BMO, expects the Federal Reserve to implement at least two interest rate hikes by year-end. The federal funds rate currently stands at 3.63%, with markets pricing in a 90% probability of a rate hike at the upcoming Fed decision. This outlook aligns with efforts to control persistent inflation through tighter monetary policy. The FOMC meeting on September 16 is expected to provide further clarity on the Fed’s rate path.
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