30 of the 36 economists asked say they now expect the Fed 'lift-off' rate hike to come earleir than they had previously projected.
- in Q3 2021 from Q4 previously thought.
Most thought there is a risk of even sooner than Q3.
- persistently higher inflation
But wary of once again rising COVID-19 cases globally and the Omicron mutant.
- three more hikes - in Q4 next year and Q1 and Q2 of 2023. The fed funds rate was expected to reach 1.25-1.50% by end-2023.
Fed Chair Powell: