Fed signals more aggressive steps to fight inflation

Wednesday, April 6, 2022 | Tag Cloud Tags: , , , , , , ,

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(Worthy News) – officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months – actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the .

In minutes from their policy meeting three weeks ago released Wednesday, Fed officials said that aggressive half-point rate hikes, rather than traditional quarter-point increases – “could be appropriate” multiple times this year. At last month’s meeting, many of the Fed policymakers favored a half-point increase, the minutes said, but held off because of the uncertainties created by ’s invasion of . Instead, the Fed raised its key short-term rate by a quarter-point and signaled that it planned to continue raising rates well into next year.

The minutes said the Fed is also moving closer to rapidly shrinking its huge $9 trillion stockpile of bonds in the coming months, a move that would contribute to higher borrowing costs. The policymakers said they would likely cut their holdings by about $95 billion a month – nearly double the pace they implemented five years ago when they last shrank their balance sheet. [ Source: Washington Times (Read More…) ]

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