UOB Research presents an infographics for its projection for Fed fund rates and sees US terminal rate of 3.75-4.00% by 1Q2023

"Expectations remain firm for the Fed to continue with its rate hikes in 2022 but the path has become more uncertain, given the shift to “meeting by meeting” basis.

We now expect another two more 50bps rate hikes at the Sep and Nov FOMC before ending the year with a 25bps hike in Dec," UOB notes.