Fed Hikes Rates Another 25 Basis Points—But Indicates It Could Be End Of Rate Hikes
it will hike the federal funds rate by 25 basis points to between 4.75% and 5% following a two-day meeting that took place amid economic turbulence.
Notably, the Fed’s statement did not explicitly refer to any future increases, instead saying “additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation” to its 2% target.The futures market priced in a roughly 90% likelihood of a 25 basis-point hike Wednesday compared to a 10% chance at a pause,to the CME FedWatch Tool.
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