Powell just said rates will need to be somewhat higher than thought at the time of the September meeting and Summary of Economic Projections


Why is this being positively spun by the media? The median expected federal funds rate for 2023 was 4.6 in Sept. 2022. In June 2022 it was 3.8. Could we see >5.0 when December projections come out?

page 2, 1st set of columns, last row: https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20220921.pdf


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