The Federal Reserve raised charges by 50 foundation factors, marking the central financial institution’s greatest fee hike since 2000. Fed Chairman Jerome Powell holds a information convention after the choice.
Wednesday’s assertion famous that financial exercise “edged down within the first quarter” however famous that “family spending and enterprise fastened funding remained robust.” Inflation “stays elevated,” the assertion mentioned.
The Fed additionally mentioned it would start decreasing its huge $9 trillion steadiness sheet.
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Chairman Jerome Powell speaks after Fed hikes rates of interest by half level — 5/4/22
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