New WSJ Piece on Fed Sees Hikes "Probably Over"

New WSJ piece doing the rounds, written by Nick Timiraos: Fed’s Interest Rate Hikes Are Probably Over, But Officials Are Reluctant to Say So https://www.wsj.com/economy/central-banking/fed-in...

• "Federal Reserve officials are increasingly confident that they don’t need to keep raising interest rates to defeat inflation. But they aren’t satisfied enough to declare an end to hikes—let alone to start a discussion about lowering rates. This leaves them on track to hold rates steady at their December meeting while maintaining public guidance that their next rate change is more likely to be an increase than a cut."
• Recall our Policy exclusive from earlier this week: MNI POLICY: Fed Likely Done Hiking, Focused On Length Of Hold (Nov27)
• "The Federal Reserve is most likely done raising interest rates and policymakers are already pivoting to communication about the need for a prolonged period of higher rates, while expressing caution about whether inflation is sustainably headed to the central bank’s 2% target."