There has been a lot of talk about the possibility of the Federal Reserve keeping the Fed Funds Rate at higher levels for an extended period. The accompanying graph shows the Federal Funds Rate starting from 1954. It is evident that most of the time when the rate reaches its peak, it drops rapidly and often by a significant amount. Although this pattern may not repeat this time, it is worth noting that if something goes wrong in the economy, there might not be any other choice but for the Fed to reduce these rates due to the risk of a recession.
https://fred.stlouisfed.org/series/FEDFUNDS