Powell Stresses Commitment to Cooling Prices as Fed Hikes Rates

March 28, 2023 by Catarina Saraiva

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

The Federal Open Market Committee voted unanimously to increase its target for the federal funds rate by a quarter percentage point to a range of 4.75% to 5%, the highest since September 2007, when rates were at their peak on the eve of the financial crisis.

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Originally Posted at ThinkAdvisor on March 22, 2023 by Catarina Saraiva.