Published • loading... • Updated
Fed Raises Rates 25 Basis Points, Signals Another Hike This Year
Officials said 16 of 18 policymakers expect at least one more increase this year as inflation stays above the Fed’s 2% target.
- On Wednesday, the Federal Reserve unanimously voted to raise interest rates to between 3.75 and 4.00 per cent, marking the first increase in three years.
- Persistent inflation driven by rising oil prices during the U.S.-Israeli conflict with Iran prompted the action, as officials aimed to support a "timelier return" to their 2 per cent target.
- Fed Chairman Kevin Warsh emphasized that "the plain fact is that inflation is too high and has been for too long," while the Dow Jones Industrial Average tumbled more than 850 points after the announcement.
- Following the announcement, the two-year Treasury yield jumped to 4.73% from 4.67% late Tuesday, while JPMorgan Chase fell 2%, one of the market's heaviest weights.
- Projections published Wednesday show at least 12 of 18 policymakers expect another rate hike before year-end, with the median forecast suggesting the federal funds rate will reach 4.1%.
Insights by Ground AI
Podcasts & Opinions
451 Articles
451 Articles
The new Fed boss follows his words with deeds, the US Federal Reserve raises its key interest rates slightly. That's enough to reassure experts
Federal reserve raise interest rates for the first time in three years
LINCOLN, Neb. (KLKN) — Today, the Federal Reserve decided to raise interest rates to a 3.75% to 4% range for the first time since 2023. Officials state “the plain fact is inflation is too high.” “We cannot effect any individual price,” Federal Reserve Chair Kevin Warsh said. “Whether it be oil prices, whether it be food at the grocery store....
·Lincoln, United States
Read Full Article
Coverage Details
Total News Sources451
Leaning Left63Leaning Right85Center91Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 26%
C 38%
R 36%
Factuality
To view factuality data please Upgrade to Premium
