How Wall Street is thinking about rate hikes following the latest Fed speech

Following Federal Reserve Chair Kevin Warsh's hawkish speech at Jackson Hole, markets have increased the probability of a September rate hike to 66%, up from 41% a week earlier. Wall Street firms are divided on whether the Fed will actually hike rates. Morgan Stanley believes inflation will moderate, allowing the Fed to hold rates steady, while other firms see a higher bar for inaction.

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