After four straight three-quarter-point interest rate hikes, the Federal Reserve is set to announce a smaller half-point increase in its key rate Wednesday, a first step toward dialing back its efforts to combat inflation
more hikes next year than it had previously forecast
Yet with price increases still uncomfortably high — inflation was 7.1% in November compared with a year earlier — Powell and other Fed officials have underscored that they expect to keep rates at their peak for an extended period. On Wednesday, members of the Fed’s rate-setting committee will also update their projections for interest rates and other economic barometers for 2023 and beyond. Most analysts have forecast that they will pencil in a peak range of at least 4.75% to 5%, or even 5% to 5.25%, up from their September forecast of 4.5% to 4.75%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donkervoort F22, 2022 Lexus GX 460 Driven, And 2022 Gulf Historic GP: Your Morning Brief | CarscoopsDonkervoort F22, 2022 Lexus GX 460 Driven, And 2022 Gulf Historic GP: Your Morning Brief | Carscoops carscoops
Read more »
US futures rise ahead of last Fed policy meeting of 2022Wall Street futures pointed modestly higher Monday ahead of the Federal Reserve's last policy meeting of 2022, where it's expected the central bank will raise its main lending rate by another half-point.
Read more »
Cobalion Raid Guide For Pokémon GO Players: December 2022Cobalion Raid Guide for PokemonGO Players: Take on this Steel/Fighting-type Legendary in Tier Five raids with this list of top counters. Pokemon
Read more »
A 2022 list of best unique gifts for herFrom smaller gifts or bigger buys, here are well-reviewed gifts that should accommodate most budgets.
Read more »
The 25 Best Pride Songs of 2022: Staff PicksThese songs proved that the LGBTQ community — both artists and otherwise — is not a monolith.
Read more »