Federal Open Market Committee FOMC rate hike expectationsBy a 12-7 margin, the Fed Summary of Economic Projections shows the most likely interest rate projection for the December 2023 meeting is now 5.50 percent to 5.75 percent. That is an additional hike on top of the Wednesday hike to a range at 5.25 percent to 5.50 percent. The median projection for December 2024 is 5.0 percent, but one Fed member forecasts 6.0 to 6.25 percent. Thus, the Fed thinks that 30 percent of the time interest rates will be outside that range. Poor data is international.

Source: Wall Street Journal September 21, 2023 18:24 UTC