FXStreet reports that Morgan Stanley Chief Executive Officer James Gorman discusses the Fed's policy outlook.

“My personal view is rates are likely to rise in the early part of next year, and not in 2023 which is currently the projection. The Federal Reserve will be driven by whatever their numbers tell them. I am just giving you my opinion.”

“Fed remains cautious and doesn’t think there will be long-term inflation pressure. Yet signs of inflation are rising. After many years of no inflation, we clearly see price increases. Increasingly people are starting to think it may be more structural, long term. If that is the case, the Federal Reserve will have to raise interest rates at some point.”