Federal Reserve official Beth Hammack suggested that multiple interest rate hikes might be necessary, emphasizing uncertainty around the final policy rate. The Fed’s current target range stands at 3.50% to 3.75%, with a median projection of 3.8% by year-end. Markets have already begun adjusting, with some participants pricing in the possibility of one or more hikes by 2026. Current odds for a rate hike by September 2026 have risen to 44.5%, reflecting expectations of a hawkish Fed stance.
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