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Search resuls for: "meeting's"


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☆ Here's everything the Federal Reserve is expected to do today
  + stars: | 2022-09-21 | by ( Jeff Cox | ) www.cnbc.com   time to read: +6 min
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty ImagesThere's not a lot of mystery surrounding Wednesday's Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate hike. That's the highest the fed funds rate has been since early 2008. Economic outlook: Part of this week's meeting will see Fed officials issue a quarterly update of their interest rate and economic outlook. Powell presser: Fed Chairman Jerome Powell will hold his usual news conference following the conclusion of the two-day meeting.
☆ Fed raises rates by another three-quarters of a percentage point, pledges more hikes to fight inflation
  + stars: | 2022-09-21 | by ( Jeff Cox | ) www.cnbc.com   time to read: +6 min
The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level. Along with the massive rate increases, Fed officials signaled the intention of continuing to hike until the funds level hits a "terminal rate," or end point, of 4.6% in 2023. Traders had fully priced in the 0.75 percentage point move and even had assigned an 18% chance of a full percentage point move, according to CME Group data. Futures contracts just prior to Wednesday's meeting implied a 4.545% funds rate by April 2023. Along with the rate increases, the Fed has been reducing the amount of bond holdings it has accumulated over the years.
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