What will the Fed do in July and September?

The Reuters poll showed that the Fed would up its rates by 75bp in July and 50bp in September.  How valid is the poll outcome?

Let's take a look at Prof. Nouriel Roubini's forecast first.

Let's take a look at the Cleveland Fed's forecast below.  The CPI forecast has not declined at all after the recent 75bp hike.  This shows that the Fed has not managed to tame the high inflation insofar.

 

The latest Fed's dot plot (Fed funds futures) shows that the Fed rate will end at 3.75% by the end of 2022.

All the aforesaid factors show the validity of the Reuters poll outcome.