According to the majority of top academic economists surveyed by the Financial Times, the US central bank will raise its benchmark policy rate beyond 4% and keep it there through 2023 in an effort to combat excessive inflation.
The Federal Open Market Committee has increased interest rates this year at the quickest rate since 1981, and on Wednesday, it is anticipated to do so again by 0.75 percentage points.
With that change, the target range, which had been hovering around zero as late as March, would be raised to between 3% and 3.25 percent.
