Hawkish FOMC

2:20 p.m. ET The Fed hike rates by 50bps, as expected, but the Dot-plot expectations for the terminal rate to  5.1 from 4.6 peak fed funds rate at the last SEP. The media forecasts shows the FF rate at 5.1% in 2023, then 4.1% in 2024, suggesting they’re expecting another 50 bp in hikes hold…