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MNI STATE OF PLAY: Fed To Pick Up Tightening Pace, Announce QT

(MNI) Washington

FOMC expected to lift rates by a half point Wednesday, likely the first in a string of similarly aggressive moves to curb inflation.

The Federal Reserve on Wednesday is expected to raise benchmark interest rates by 50 basis points in its most aggressive move in two decades to curb inflation. It's also set to announce plans to shrink its USD9 trillion balance sheet at a rapid pace starting next month.

The U.S. central bank, criticized for waiting too long to respond to soaring inflation, appears to be aiming to frontload multiple 50-bp increases to get the fed funds rate to around 2% before reassessing the pace of further rate hikes.

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The Federal Reserve on Wednesday is expected to raise benchmark interest rates by 50 basis points in its most aggressive move in two decades to curb inflation. It's also set to announce plans to shrink its USD9 trillion balance sheet at a rapid pace starting next month.

The U.S. central bank, criticized for waiting too long to respond to soaring inflation, appears to be aiming to frontload multiple 50-bp increases to get the fed funds rate to around 2% before reassessing the pace of further rate hikes.

Keep reading...Show less