Today’s Fed move is hawkish and likely to slow down inflation, AmeriVet’s Gregory Faranello tells WSJ. “The Fed wants to do as much now as they possibly can.” He notes the projections point to the fund rates reaching 4.6% in 2023. “They’ve left two 75-basis points hikes on the table. Not that they’ll deliver that, but to get in and around that range they’d have to hike 150 basis points roughly over the next couple of meetings.” Faranello says that eventually inflation won’t go down to 2% this year or next, “but certainly they want to get a trajectory moving that way.”

By: Paulo Trevisani (paulo.trevisani@wsj.com; @ptrevisani)