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US Fed Hikes Rates by a Quarter Point for the First Time Since 2018

March 17, 2022 by Forex Winner Leave a Comment

US Federal Reserve

Source: Federal Reserve

The Federal Reserve started a campaign of hiking interest rates that’s are set to be the most aggressive since the 2000s, as Chair Jerome Powell vowed to fight against inflation. DXY down -0.10%, EUR USD up +0.17%

  • After hiking rates by a quarter-point, Powell informed reporters that inflation is extremely high, the labor market is overheated and price stability is a pre-condition for the Federal Reserve.
  • Powell further stated that the American economy is very strong and well-poised to deal with the tighter monetary policy.
  • Policymakers voted in favor of lifting their key rate to a range of 0.25% to 0.5% after two years of holding borrowing costs close to zero to protect the economy from the pandemic.
  • Fed officials expect a sequence of rate hikes, finishing this year at 1.9% and almost 2.8% by the close of 2023.
  • Starting June 2004 to June 2006, the Fed upgraded its benchmark from 1% to 5.25%, tightening at 17 consecutive meetings.

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Filed Under: Forex News Tagged With: US Fed, USA

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