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MNI: FOMC RAISES FED FUNDS RATE 25 BPS TO 4.75%-5%

FED
  • MNI: FOMC RAISES FED FUNDS RATE 25 BPS TO 4.75%-5%
  • FED: 'SOME ADDITIONAL POLICY FIRMING MAY BE APPROPRIATE'
  • FED: WILL LIKELY SEE TIGHTER CREDIT CONDITIONS, UNCERTAIN
  • FED: TIGHTER CREDIT WILL WEIGH ON GROWTH, HIRING, PRICES
  • FED: MEDIAN FED FUNDS RATE 5.1% IN 2023; 4.3% IN 2024
  • FED: 10 OUT OF 18 OFFICIALS SEE YEAR-END RATE AT 5.1%
  • FED: 7 OFFICIALS SEE AT LEAST 50 BPS MORE 2023 TIGHTENING
  • FED: GDP FORECASTS LOWERED TO 0.4% IN 2023, 1.2% IN 2024
  • FED: INFLATION FORECASTS SLIGHTLY HIGHER IN 2023, 2024

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