February 01, 2023 19:05 GMT
Fed Hikes 25BPS, No Hints Of Pause For Now
- (MNI) WASHINGTON - The Federal Reserve raised interest rates by a quarter percentage point as expected Wednesday, repeating that it anticipates "ongoing increases" will be needed and offering little hint on the timing of a pause in tightening.
- "The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time," the Committee said, reaffirming its guidance from December.
- The Fed made minor tweaks to its statement, acknowledging a recent easing of inflation. They also replaced the word "pace" of hikes with "extent", suggesting they are set to keep moving in 25bp increments.