Federal Reserve raises interest rates by 0.25 percentage points, slowing the pace of its hikes in new phase of inflation fight
“Recent indicators point to modest growth in spending and production,” the statement read. “Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated.”increase marks the eighth one in a row, as central bankers continue their all-out battle against rising prices.
“Inflation is now slowing in a manner that will provide the Fed with several degrees of freedom to respond to what looks like a slowing of the U.S. economy,” said Joe Brusuelas, chief economist at RSM.
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