No one and done: The Fed will hike at least two times over the next year, according to CNBC survey

A majority of respondents to the CNBC Fed Survey now forecast at least two hikes over the next one year, with a third predicting three or more. It's a stark change from last month when just 46% expected a hike ahead. That's grown to 86% with 55% expecting more than a single hike. Since last month, Fed Chairman Kevin Warsh delivered a hawkish speech in Jackson Hole, oil prices surged, inflation failed to cool and respondents now seem to believe inflation has spread beyond energy and won't take care of itself without action by the Fed. "There is nothing in the data that suggests inflation will return to target 'soon,' said Neil Dutta, head of economic research at Renaissance Macro Research.