The Federal Reserve unanimously voted to raise interest rates by 0.25% to 3.75–4.00%, with 16 of 18 officials projecting at least one more hike this year, likely reaching 4.00–4.25%. The author argues that a single rate hike is unlikely based on historical patterns: every time oil prices have risen since 2001, the Fed has followed suit, and the Fed has never raised rates just once. The article also flags geopolitical factors (Iran-US tensions) as shifting Fed outlook, making further hikes probable despite the author's hope the cycle ends around 4.50% rather than 5.00–5.25%.