Further fed rate rises likely

The Baltimore Sun reports:

Despite 11 increases in short-term rates in just over 15 months, Federal Reserve members are indicating there will be no quick end to their campaign to tighten credit.

Don't be surprised if the central bank makes at least two more interest-rate moves before Fed Chairman Alan Greenspan departs in late January, which would bring its short-term lending barometer to 4.25 percent, said Bannockburn, Ill.-based mutual fund manager Henry Van der Eb. Other economists say the rate could hit 5.5 percent next year.