Anxious Fed set for historic measure to try to curb inflation

Thursday, April 28, 2022 | Tag Cloud Tags: , , , ,

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(Worthy News) – The is set to take its most aggressive action in decades to rein in inflation when it meets this week — a move that would have implications for the entire .

The Federal Open Market Committee, which dictates the country’s monetary policy and is led by Fed Chairman Jerome Powell, is expected to hike its interest rate target by half a percentage point in order to drive down inflation when it meets next Tuesday and Wednesday.

A half-point increase, also known as a 50-basis-point hike, is akin to conducting two interest rate hikes at once, given that the federal funds rate is typically moved up by a quarter of a percentage point at a time. If the Fed follows through on the more aggressive hike, it would be the first time such an action has been taken in more than two decades. [ Source: Washington Examiner (Read More…) ]

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