SocGen’s Rajappa Forecasts Fed Rate Hike in December, Another in March 2027

A hawkish call on the Fed matters for crypto and RWA markets because tighter policy has generally pressured risk assets and dollar-sensitive tokens. The signal here is the gap between one strategist's view and current market pricing, which suggests some investors may be positioned for a different rate path. The forecast's credibility is hard to assess without the reasoning or the size of the moves. Whether other desks shift toward this view, or the Fed's own communication does, is the open question worth tracking.