The market may not be quite convinced that the Fed can do what it outlined in its future projections

 With inflation running at a 39-year high, finding the right balance between stabilizing prices and supporting the economy will be challenging.

“Pushing rates up that significantly could be pretty hard without causing much more tightening in financial conditions than they probably want to see,” said Kathy Jones, chief fixed income strategist at Charles Schwab. “What the market’s telling you is the Fed doesn’t have much scope to go beyond two or three hikes

CNBC 16 December 2021

https://www.cnbc.com/2021/12/16/the-federal-reserve-still-has-a-lot-of-questions-to-answer-about-its-long-term-strategy.html