[BNP Paribas: The Fed Unlikely to Repeat the 2022-2023 Rate Hike Cycle] BlockBeats News, September 28 – BNP Paribas strategist Chi Lo stated that although the market expects two more rate hikes, the Federal Reserve's September rate hike is unlikely to mark the beginning of a new tightening cycle similar to 2022-2023. Instead, it may signify the start of 'preventive rate hikes,' aimed at reversing last year's three rate cuts to bring inflation back to target levels. He noted that further rate hikes will not resolve external shocks such as war and energy price inflation but will alleviate financial market concerns about the Fed's credibility in combating inflation. The Fed cannot continuously ignore recurring or unexpectedly persistent shocks. However, by slowing activity in other areas of the economy to curb inflationary pressures, additional rate hikes could also risk pushing the economy into stagflation.