Probability of Four or More 2018 Fed Hikes Hits New High: Chart

Investors’ biggest question for Federal Reserve officials Wednesday will probably be answered before new Fed Chairman Jerome Powell even takes the stage for his first press conference at 2:30 p.m. in Washington. A half hour before that, the central bank will publish its new interest-rate projections, and the market is signaling there’s a chance that the median estimate for the number of rate increases this year may move up to four, from three: The chances of four or more hikes are now about one in three, a new high, according to fed funds futures.