By Martin Baccardax Markets are now pricing in a ‘peak” Fed Funds rate of around 4.6% in the first quarter of next year The Federal The Federal Reserve delivered its third major rate hike in succession Wednesday, extending what is now the most aggressive tightening on record, while adding it sees “ongoing increases” in the months ahead despite a weakening forecast for the world’s biggest economy. The Fed lifted its Fed Funds rate by 75 basis points, matching the biggest move since 1994 as well as two similar moves earlier this year, to a range of 3% to 3.25%, and said further near-term rate mo…