Fed policymakers had predicted there wouldn't be any rate hike before 2024, then they predicted there would be two by late 2023[1]. We've had nine rate hikes si

Fed policymakers had predicted there wouldn't be any rate hike before 2024, then they predicted there would be two by late 2023[1]. We've had nine rate hikes since then. I think the correct reading of the situation is that inflation wasn't transitory, which lead to the Fed raising rates much soon, much higher, and much more frequently than they anticipated (which is why SVB ran into so much trouble), and the heavy rate hikes eventually got inflation under control (which was the entire reason for the aggressive rate hikes). [1] https://apnews.com/article/inflation-health-coronavirus-pandemic-business-380a7fc237023194d94af689f13a5ef7 https://apnews.com/article/inflation-health-coronavirus-pand...