The Federal Reserve now sees at least two interest rate hikes in 2023, according to the central bank’s so-called dot plot of projections.
Wednesday’s forecast showed 13 members of the Federal Open Market Committee believe the Fed will increase rates in 2023 and the majority of them believe the central bank will hike at least twice that year. Only five members still see the Fed staying pat through 2023. In fact, seven of the 18 members see the Fed possibly increasing rates as early as 2022.
In March, four of the 18 FOMC members were looking for a rate hike at some point in 2022. At the same time, seven members saw a rate increase in 2023.
Every quarter, members of the committee forecast…