Fed Expected to Raise Rates at Least Twice in Next Year, CNBC Survey Finds
A CNBC survey finds the Fed will hike rates at least twice in the coming year, with most respondents citing inflation concerns beyond just energy prices.
The Federal Reserve is widely expected to raise interest rates at least two times over the next year, according to a new CNBC survey, signaling that market participants and economists see monetary tightening as a sustained effort rather than a single corrective move.
Higher oil prices are identified as a primary driver behind the shift in rate expectations, but the survey reveals a broader concern: approximately three-quarters of respondents believe the inflation problem extends well beyond energy costs, suggesting underlying price pressures across the economy are proving persistent.
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The findings underscore a growing consensus that the Fed faces a more complex inflation challenge than a temporary commodity-driven spike. When a strong majority of survey participants view inflation as structural rather than transitory, it raises the stakes for policymakers navigating rate decisions without triggering an economic slowdown.
The survey results align with a broader recalibration among investors and analysts who had previously anticipated a more restrained tightening cycle. Back-to-back rate hikes would mark a notable acceleration in the Fed's response and could have ripple effects across borrowing costs, equity valuations, and consumer spending in the months ahead.
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