TD Securities expects Fed to begin three-rate-hike cycle in September

2026年9月11日15:04 (42d ago)

TD Securities strategists expect the Federal Reserve to start a three-hike cycle in September.
August CPI exceeded expectations, prompting traders to raise near-term rate-hike expectations.
TD Securities previously forecast the central bank would remain on hold through 2026.

TD Securities strategists Oscar Munoz and Gennadiy Goldberg now expect the Federal Reserve (U.S. central bank) to begin a cycle of three interest-rate increases in September, followed by hikes in October and January. Their previous forecast called for the central bank to remain on hold for the rest of 2026. The change followed August CPI (consumer price index measuring inflation) data that came in above expectations and indicated limited progress on inflation. The strategists said the Fed may not offer forward guidance, but its dot plot could take a hawkish stance.