Free Trial

Rally Fades, But Strong Weekly Gains


Bears Threat Remains Present


Late SOFR/Treasury Option Roundup


St Louis Fed Director On Inflation, Growth


Needle Points North, Despite Friday Pullback

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: Powell: Peak US Rates Higher Than Earlier Expected


Peak U.S. interest rates are expected to be higher than the FOMC earlier expected after inflation continued to surprise to the upside, Federal Reserve Chair Jerome Powell said Wednesday. The median FOMC official in September projected rates to reach 4.6% by the end of next year.

"We still have some ways to go. Incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected," he told reporters after the FOMC raised interest rates by 75 basis points to a 3.75% to 4% range. "Our decisions will depend on the totality of incoming data and implications for the outlook of activity and inflation."

MNI earlier reported peak U.S. interest rates are likely to be 5% or more.

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

To read the full story

Why Subscribe to


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.