Jerome Powell holds a news conference in WashingtonReuters The Federal Reserve said Wednesday it "will soon be appropriate" for it to raise its benchmark interest rate. The rate affects borrowing costs throughout the economy and is the Fed's main tool for cooling inflation. While timing for future hikes wasn't mentioned, signs point to the first hike coming as early as March. The Federal Reserve offered its clearest sign yet that it's ready to raise interest rates as it looks to quash historically strong inflation.The central bank announced on Wednesday it would hold its benchmark interest rate near zero and maintain its current pace for tapering emergency asset purchases.
Similar Stories to The Fed Hints It Will Soon Raise Interest Rates As Inflation Lingers At Its Highest Level Since 1982 on Bing News
bwinck@businessinsider.com (Ben Winck), Business Insider
Wed, 01/26/2022 - 12:13pm
Topics: will soon be appropriate jerome powell washingtonreuters federal open market committee the fed december consumer price index goldman sachs omicron jpmorgan ceo jamie dimon january cnbc nasdaq s&p fomc business insider the federal reserve march fed committee inflation raise interest rates benchmark hikes bank central meeting early wednesday strong specific published economic lift stocks future showed timing tool news cooling emergency month times pace ndash tightening growth fueled weeks faster
BING NEWS:
- Fed’s higher interest rates do not get all the credit for lower inflation
Improvements in supply chains and availability of labor have helped, even though the economy didn’t respond to rate hikes as expected ...
06/14/2024 - 11:25 pm | View Link - Fed leaves interest rates unchanged with just one cut projected by the end of 2024
Wednesday's inflation report, which showed inflation ... Treading that careful line means interest rates are likely to stay higher for longer, with little chance of a rate cut coming by the ...
06/13/2024 - 5:49 am | View Link - Live Updates: Fed Keeps Rates Steady and Forecasts Only One Cut This Year
The Federal Reserve left interest rates unchanged on Wednesday and signaled one cut in 2024, with more to come in 2025. Earlier, inflation data for May came in cooler than expected. Federal funds ...
06/12/2024 - 10:05 am | View Link - The Fed keeps interest rates at 23-year high, and forecasts just one cut this year
Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century ...
06/12/2024 - 7:01 am | View Link - Live Updates: Inflation Cools Ahead of Fed Meeting
Prices rose 3.3 percent in the year through May, a deceleration in inflation that gives some relief to consumers. Federal Reserve officials will consider the data as they set interest rates.
06/12/2024 - 6:28 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more