PGIM chief U.S. economist Robert Sokin said the Fed's latest meeting was hawkish and signaled that only modest additional pressure could lead the central bank to deliver three hikes, or more if necessary. Among 18 Fed officials who submitted projections, eight expect a cumulative three hikes by end-2027. Sokin noted Fed Chair KEVIN WARSH said the Fed has "removed some accommodation," language that suggests participants viewed Wednesday's move as a small step in tightening and that further action

PGIM chief U.S. economist Robert Sokin said the Fed's latest meeting was hawkish and signaled that only modest additional pressure could lead the central bank to deliver three hikes, or more if necessary. Among 18 Fed officials who submitted projections, eight expect a cumulative three hikes by end-2027. Sokin noted Fed Chair KEVIN WARSH said the Fed has "removed some accommodation," language that suggests participants viewed Wednesday's move as a small step in tightening and that further action is possible. He added that if inflation remains elevated the risk of additional hikes remains tilted to the upside.