The Federal Open Market Committee and Powell were hawkish:


ForexLive Americas FX news wrap: Powell ignites the US dollar

Wells Fargo analysts expect a March 2022 rate hike, which is the consensus view.

  • then expect 25bp hikes each quarter through to Q3 of 2023
  • for a total of 175bp

The analysts go on to warn the risk is skewed towards an even faster pace of rate hikes than that forecast.