While Fed Chair Jerome Powell said a switch to smaller-sized rate hikes ‘may come as soon as the next meeting, or the one after that,’ he also said there is a still a ‘ways to go’ in the rate-hiking cycle
The Federal Reserve will take its benchmark policy rate above 5 per cent by March and keep it there for most of 2023 in a bid to squeeze inflation out of the world’s biggest economy, traders of U.S. interest rate futures were betting on Thursday.interest rate increase
Projections released by the Fed in September showed most policy-makers had pencilled in a rise to the 4.50 per cent-5.00 per cent range next year. The Fed’s rate hikes – the most aggressive tightening of U.S. monetary policy in 40 years – are aimed at bringing down inflation running at more than three times the central bank’s 2 per cent target.
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