[DBS: The Fed May Hike Rates Twice More in This Cycle] Jin10 News, September 17 – Taimur Baig, Chief Economist at DBS Group Research, stated in a report that during this rate cycle, the Federal Reserve might raise interest rates two more times—once this year and again in early 2027. He noted that the Fed's unanimous decision to hike rates in September has laid the groundwork for further rate increases. He added, 'Although inflation is largely driven by supply-side factors, the risks to the inflation outlook are significant enough to prompt the Fed to take additional action.' Baig pointed out that Fed Chair Waller has previously stated that the pace of inflation returning to the 2% target level remains unsatisfactory, and short-term interest rates are still a key tool for achieving the Fed's policy objectives. As a result, Baig expects the terminal rate for this rate hike cycle to reach 4.5%.