Fed to Raise Rates Three More Times, Bond Dealers Say

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The Federal Reserve will raise interest rates at least three more times this year to keep inflation in check, according to a majority of Wall Street’s biggest bond dealers.

All 22 primary dealers of U.S. government securities expect Fed policy makers will increase their target rate for overnight loans between banks to 3.25 percent from 3 percent today, a survey by Bloomberg News found. Eighteen forecast a boost to 3.75 percent or higher by year-end, while half the 22 see a rate of at least 4 percent.