The firm now sees the Fed hiking rates by 25 bps each quarter through to Q3 2023, starting from March this year. Adding that they expect the Fed to start reducing its balance sheet as an additional means of removing monetary accommodation in Q3 2023. On the rate hikes, two certainly was rather conservative and one of the more "out there" calls. Four is perhaps borderline consensus, as previously talked about:
Wells Fargo now sees the Fed hiking rates four times this year as compared to twice previously
- Wells Fargo ups their forecast for Fed rate hikes
