Fed Raises Rates
The Federal Reserve raised interest rates by another 25 basis points yesterday, and signaled that it may take a break from further increases for the time being, according to (subscription).
The details: The unanimous decision marked the Feds 10th consecutive rate increase aimed at battling inflation and brings its benchmark federal-funds rate to a range between 5% and 5.25%, a 16-year high.
- It has raised the benchmark federal-funds rate by 5 percentage points from its near-0 level in March 2022, in the fastest series of hikes since the 1980s.
A pause? People did talk about pausing, but not so much at this meeting, Fed Chair Jerome Powell said at a news conference. We feel like were getting closer or maybe even there.
- Mr. Powell indicated泭that . . . officials would need to see signs of stronger-than-expected growth, hiring and inflation to continue raising rates.”
Stay tuned: The Feds next meeting is June 13-14.
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