The big event last week was the Fed decision where the FOMC raised the Fed Funds rate by 25 basis points and made a minor adjustment to the language concerning future rate hikes. The dot plot was more or less unchanged, and the economic forecasts were tweaked a touch. 2023 GDP estimates were pared to 0.4% growth from 0.5%, the 2023 final Fed Funds rate was unchanged at 5.1%, and inflation estimates were nudged upwards 3.3% to 3.5%. The banking crisis was addressed, however Jerome Powell said that the situation is so new that the impact is highly uncertain.
Week In Review: The Fed hikes again
Week In Review: The Fed hikes again
Week In Review: The Fed hikes again
The big event last week was the Fed decision where the FOMC raised the Fed Funds rate by 25 basis points and made a minor adjustment to the language concerning future rate hikes. The dot plot was more or less unchanged, and the economic forecasts were tweaked a touch. 2023 GDP estimates were pared to 0.4% growth from 0.5%, the 2023 final Fed Funds rate was unchanged at 5.1%, and inflation estimates were nudged upwards 3.3% to 3.5%. The banking crisis was addressed, however Jerome Powell said that the situation is so new that the impact is highly uncertain.