The recently released Federal Reserve meeting minutes from July hint at the possibility of a rate hike in 2023, potentially around November.

The CME Fedwatch Tool, driven by interest rate futures, estimates a 90% probability of steady rates in September. With only a 20% chance of a November hike.

Inflation remains a focal point for the Fed, with core CPI and trimmed mean inflation both indicating rates over 4%, surpassing the Fed’s 2% target.

As the September 20 rate-setting meeting approaches, the market eagerly anticipates more inflation and unemployment data.

While most Fed members foresee another 2023 rate hike, market conviction is less steadfast. Both parties concur that peak interest rates are nearing