Will the Fed raise rates three or four times in 2018? We will not have a definite answer until year-end, but the Fed will undoubtedly provide an indication at the upcoming Fed decision. The Fed currently projects three hikes in 2018, but Powell hinted that an upgrade to four rate rises is on the cards and will still be considered gradual. But that was before the Non-Farm Payrolls report, which showed a slowdown in wages from 2.9% to 2.6%. Now that doubts have crept in, the inflation report may provide an answer.