Former Dallas Fed head sees two further rate hikes

The Federal Reserve will hike rates by two more quarter-point moves and then stop, according to Robert McTeer, the former president of the Federal Reserve Bank of Dallas.

"My guess is that there will be two more. They won't be large, they will be quarter-point. I think it will end around 3.5," McTeer said in an interview on the CNBC television channel.

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