First, here is the post-meeting press conference with Federal Reserve Chair Jerome Powell:
Now, the Federal Reserve raised interest rates by 25 basis points, increasing the benchmark target rate to a range of 4.75% and 5.00%.
The key Federal Open Market Committee (FOMC) statement that everyone was waiting for:
“The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks.”
Meanwhile, here is a look at the Survey of Economic Projections (SEP) and what was changed:
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