Federal Reserve hikes rates 75 basis points
#JeromePowell #FederalReserve #yahoofinance
The U.S. Federal Reserve raised interest rates Wednesday by 75 basis points for the fourth straight meeting while hinting at a potential slower pace in the future — and then Fed Chair Jerome Powell reiterated the central bank’s commitment to raise rates further in an attempt to tame multi-decade highs in inflation.
“In determining the pace of future increases in the target range the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments," the policy statement said.
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