The expression "one and done" is from basketball according to yourdictionary.com and means:
(slang, basketball) A basketball player who plays college basketball for a single year and then declares for the NBA draft. John Calipari's Kentucky squad was made up of one-and-done players.
But what does the expression mean outside the basketball context? How can it be correctly used?
For instance what does it mean in the following context?
"Fed’s Fischer on rates: Can’t say one ‘and done’" by Greg Robb, MarketWatch.com, Aug. 30, 2016
It is impossible to say whether the next interest-rate hike would be “one and done,” Federal Reserve Vice Chairman Stanley Fischer said on Tuesday.
“We can choose the pace. But we choose the pace on the basis of data that are coming in,” Fischer said in an interview on Bloomberg Television.
“So I don’t think we know at the time we start whether it’s one and done or several. It depends entirely on what happens in the economy,” Fischer said.
Last week, at the Fed’s closely followed Jackson Hole, Wyo., policy retreat, Fischer said he saw the possibility of two rate hikes this year.