US Federal Reserve Signals 3 Interest Rate Hikes in 2022
(Worthy News) – Policymakers at the U.S. central bank, the Federal Reserve, moved aggressively Wednesday to fight raging inflation in consumer prices for American shoppers and businesses.
The policymakers announced they soon would end their stimulus to fight the economic damage from the coronavirus pandemic and signaled they could increase their benchmark interest rate three times next year.
With consumer prices surging at an annualized 6.8% pace in November, the biggest jump in nearly four decades, the Fed said it will move faster to wind down its vast asset purchase program by March, rather than the initial goal of mid-2022, that it had used to boost the world’s biggest economy from the ravages of the pandemic. [ Source: VOA News (Read More…) ]
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