Fed Begins Inflation Hike with Key Rate Hike, More to Come
Industry Update
March 16, 2022
Source: AP News
The Federal Reserve launched a high-risk effort last Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year.
The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that followed the recovery from the recession. The rate hikes will eventually mean higher loan rates for many consumers and businesses.
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