Now, many of you would love to know exactly when the next rate increase is coming and how high rates will rise. The simple truth is, I can’t tell you because it will depend on how the economy actually evolves over coming months. The economy is vast and vastly complex, and its path can take surprising twists and turns.
What I can tell you is what we expect—along with a very large caveat that our interest rate expectations will change as our outlook for the economy changes.