The Federal Reserve raises its benchmark interest rate to 4.5%-4.75% marking the 8th increase in its current hiking cycle, signalling continued efforts to bring down elevated inflation despite recent slowing signs.
The Federal Reserve increased its benchmark interest rate by a quarter percentage point to a target range of 4.5%-4.75% on Wednesday, February 1st, marking the eighth increase in the current hiking cycle that began in March 2022.
Despite market expectations, the Fed did not provide any signals that the rate increases are near an end, instead noting that inflation “has eased somewhat but remains elevated” and that the Fed still sees a need for “ongoing increases in the target range”. Fed Chairman Jerome Powell acknowledged the start of the “disinflationary process,” though he warned it was “very premature to declare victory”.
The Fed’s determination of future rate increases will depend on various factors, including the effects of previous rate hikes and financial and economic conditions. The Fed is focusing on bringing down inflation that is still elevated, despite recent signs of slowing.
Full Story: HERE (CNBC)
Might be useful:
Please note, none of the content belongs to fff.vc, this is simply a preview to an original source of data! You can find all the linked URLs blow.