Fed hikes rates by a quarter percentage point

On Wednesday, the Federal Reserve implemented a quarter percentage point increase in interest rates while expressing caution about the recent banking crisis and signaling that future hikes may be coming to a close.

This marks the ninth hike since March 2022, and the rate-setting Federal Open Market Committee emphasized that further increases are not guaranteed and will be primarily influenced by forthcoming data, CNBC reported.

“The Committee will closely monitor incoming information and assess the implications for monetary policy,” the FOMC’s post-meeting statement said. “The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.”

"Fed hikes rates by a quarter percentage point, indicates increases are near an end"
READ MORE: https://www.cnbc.com/2023/03/22/fed-rate-hike-decision-march-2023.html

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