The Federal Reserve has decided to raise interest rates by half a percentage point at the end of its two-day policy meeting on Wednesday to continue its fight against inflation.
Inflation, as noted in Tuesday’s CPI report, has eased to 7.1% in the 12 months to November from a blistering 9.1% pace in June, which is giving the Fed breathing room to shrink the size of its rate hikes.
However, the Fed\u2019s still a long way from its 2% inflation goal, which means this is unlikely to be the last rate increase, economists say. The Fed has already raised rates six times this year to a range between 3.75% and 4% from near zero at the start of the year.
The last four increases were supersized at 0.75 percentage point each. With another half-point hike expected, the cumulative increase to date would rank among the most aggressive increases since the 1980s to try to tame the highest inflation in 40 years.
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Reserve has decided to raise interest rates by half a percentage point at the end of its two-day policy meeting on Wednesday to continue its fight against inflation. Inflation, as noted in Tuesday’s CPI report, has eased to 7.1% in the 12 months to November from a blistering 9.1% pace in June, which …<\/p>\n","protected":false},"author":13,"featured_media":53410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4707,37,36],"tags":[6885,7664],"class_list":["post-77126","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-breaking-news","category-forex-markets","category-market-updates","tag-fed","tag-interest-rate-hike"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=77126"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77126\/revisions"}],"predecessor-version":[{"id":77132,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77126\/revisions\/77132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53410"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=77126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=77126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=77126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}