The Federal Reserve raised its key interest rate corridor by 25 basis points to 4.50%-4.75%, as expected. In the view of economists at Commerzbank, the Fed is unlikely to do much more before it reaches its rate peak.

The Fed returns to "normal" rate hikes

“The Fed raised its key interest rates by 25 bps, as expected. The federal funds target corridor is now at 4.50% to 4.75%.”

“In the statement published after the meeting, the Fed did not indicate an imminent end to the rate hikes.”

“Fed Chair Powell emphasized that the US is only at the beginning of a disinflationary process. However, the Fed is probably not too far away from the rate peak.”