Federal Reserve Hikes by 0.75 Point, Signals Slower Increases but Ultimately Higher Rates

November 8, 2022 by Nick Timiraos

WASHINGTON—The Federal Reserve lifted interest rates by another 0.75 percentage point to combat inflation and signaled plans to keep raising them, possibly in smaller increments but to higher levels than previously anticipated.

The increase approved Wednesday, the Fed’s fourth consecutive 0.75-point rate rise, lifts the central bank’s benchmark federal-funds to a range between 3.75% and 4%. After the decision, Chairman Jerome Powell said officials would contemplate a smaller hike at their next meeting in December. 

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Originally Posted at The Wall Street Journal on November 2, 2022 by Nick Timiraos.