Fed announces first interest rate hike in years as inflation looms large

Thursday, March 17, 2022 | Tag Cloud Tags: , ,

fed reserve worthy us news

(Worthy News) – The announced Wednesday it would raise its interest rate target by a quarter percentage point in an effort to curb soaring inflation, a major step away from its pandemic-era emergency policies.

Fed officials, as a group, also indicated that they expect seven or eight rate hikes over the course of 2022 — a much higher number than the three that were projected during the last quarter. One unnamed participant is pushing for up to a dozen rate hikes, according to Wednesday’s release. The urgency in raising rates is a reaction to the high rate of inflation, which officials now see running significantly higher over the course of 2022.

The Fed announced the move, which was thought by many economists to be overdue, after a much-anticipated two-day meeting of the Federal Open Market Committee. Inflation has been running much hotter than many had expected, with consumer prices reaching a breakneck 7.9% for the 12 months ending in February. [ Source (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News