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The Federal Reserve interest-rate forecast issued this week was more hawkish than almost anyone imagined. Despite what chair Jerome Powell acknowledged as three straight good inflation reports, policymakers now expect to hold their key rate a half-percent higher through 2024 than they envisioned in June. With the Fed still indicating one more hike is likely ...

As widely expected, the Federal Open Markets Committee announced Wednesday that it will keep the Federal Funds rate unchanged. At the same time, 12 of 19 Fed officials suggested that the rate will be increased one more time this year — on November 1 or December 13. The remaining seven colleagues expect no further hike. The officials’ dot plot also showed ...