Fed dot-plot shift gets lost in turmoil elsewhere - GinaChon -
The U.S. central bank’s Federal Open Market Committee on March 16 raised the target range for the federal funds interest rate by 25 basis points to 0.25% to 0.5%. It’s the first time the Federal Reserve has raised interest rates since they were cut to near zero after the pandemic hit in 2020.
It also released its latest projections on future rate hikes, inflation and other economic indicators after their meeting. The Fed forecast six more rate hikes to end the year at a range of 1.75% to 2%, assuming it maintains quarter-point increases. Inflation expectations were raised from December’s 2.6% estimate for 2022 to 4.3% while the outlook for GDP growth for this year was cut from 4% to 2.8%.U.S.
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