Fed Survey Predicts Multiple Rate Hikes Over Next Year

A majority of respondents to the CNBC Fed Survey now forecast at least two rate hikes over the next year, with a third predicting three or more.

This is a stark change from last month when just 46% expected a hike ahead. That's grown to 86% with 55% expecting more than a single hike.

The change in expectations comes after several key events: Fed Chairman Kevin Warsh delivered a hawkish speech, oil prices surged, and inflation failed to cool.