Author Topic: Fed expected to intensify inflation fight with 75-basis point rate hike  (Read 519 times)

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Online mystery-ak

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7 hours ago
Fed expected to intensify inflation fight with 75-basis point rate hike
Central bank could approve first 75-basis point rate hike since 1994

   By Megan Henney FOXBusiness

The Federal Reserve is expected to ratchet up its fight to tame scorching-hot inflation on Wednesday with the first 75-basis point rate hike in close to three decades, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans. 

With inflation unexpectedly accelerating to a fresh 40-year high in May, the Fed is under mounting pressure to move more aggressively to cool demand and slow surging consumer prices.

Central bank policymakers raised the benchmark interest rate by a half-percentage point – double the typical size – in May, and laid out a roadmap for similarly sized increases at their meetings in June and July, assuming that data evolved as expected. But a string of alarming inflation reports in recent weeks could force the Fed to shift course.

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https://www.foxbusiness.com/economy/fed-expected-intensify-inflation-fight-75-basis-point-rate-hike
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Offline Kamaji

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Too little, too late.

Offline Smokin Joe

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Too little, too late.
To slow inflation, yes, but not too late to crush anyone in debt with a variable rate...because more hikes are coming, and so is the pain. Consumer savings are at an all time low, and debt is high, especially after COVID.
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Offline catfish1957

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Online rustynail

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Offline catfish1957

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Going to take that SS COLA and buy a Jumbo CD.

Is this the COLA you are talking about?   :silly:

I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Free Vulcan

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Raised it by .75
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Offline cato potatoe

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We haven't even reached the short term rate from 2019, and they expect it to quash double digit inflation?  These people are useless.

Online libertybele

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Fed lifts interest rates by the most in 28 years, anticipates rates rising to 3.8% by the end of 2023

The Federal Reserve on Wednesday demonstrated it wanted to be aggressive in its fight against inflation, approving its largest interest rate hike in almost three decades and signaling that its benchmark rate will rise close to 4% by the end of next year.

At the central bank’s meeting that ended Wednesday, officials said they would hike the federal-funds target rate by three-quarters of a percentage point to between 1.5% and 1.75%.

In its “dot-plot forecast” of benchmark interest rates, the Fed said it planned to raise the fed funds rate to a mid-range of 3.4% by the end of this year and to 3.8% by the end of 2023. Fed officials anticipate being able to cut rates slightly in 2024.

There was only one dissent. Kansas City Fed President Esther George preferred a half percentage point hike.

In its policy statement, the Fed said it is strongly committed to getting inflation down to 2%. The central bank said overall U.S. economic activity has picked up from the weak first quarter......................

https://www.marketwatch.com/story/fed-lifts-rates-by-most-in-three-decades-anticipates-policy-rate-rising-to-3-8-by-end-of-2023-11655316254?mod=home-page
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Offline catfish1957

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If you have any desire to sell any real estate, I'd guess sooner the better.
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If you have any desire to sell any real estate, I'd guess sooner the better.

I thank God we got our daughter's house sold before all this started.
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