The Federal Reserve raised its target interest rate by a quarter of a percentage point. Read the official statement here
The Committee seeks to achieve maximum employment and inflation at the rate of 2 per cent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 per cent. The Committee anticipates that
ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 per cent over time . In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lael Brainard; Lisa D. Cook; Austan D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Christopher J. Waller.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Federal Reserve hikes rate: Read the official statementThe Federal Reserve raised its target interest rate by a quarter of a percentage point. Read the official statement here
Read more »
U.S. Federal Reserve hikes rate: Read the official statementThe Federal Reserve raised its target interest rate by a quarter of a percentage point. Read the official statement here
Read more »
Federal Reserve hikes key interest rate again to 4.75% — and signals more to come | CBC NewsThe U.S. central bank raised its target interest rate by a quarter of a percentage point on Wednesday, and promised 'ongoing increases' in borrowing costs as part of its ongoing battle against inflation.
Read more »
Oil prices stable as market awaits Federal Reserve, OPEC decisionsBrent crude futures dipped 11 cents to $85.35 a barrel at 0949 GMT, while U.S. West Texas Intermediate crude futures rose 8 cents to $78.95
Read more »
U.S. Federal Reserve expected to deliver small rate hike but keep anti-inflation tiltThe expected increase would set the U.S. central bank’s benchmark overnight interest rate in the 4.50%-4.75% range, the highest since November 2007
Read more »
U.S. Federal Reserve lifts rate by another quarter-pointU.S. Federal Reserve lifts rate by another quarter-point The Fed signalled that even though inflation is easing, it remains high enough to require further rate hikes.
Read more »