As expected, the Federal Reserve, at a regularly scheduled monetary policy meeting of the FOMC, has raised by 25 basis points the interest rate it directly controls.
The range for the Federal Funds rate has been increased from 1.50%-1.75% to 1.75%-2.00%.
The Fed also signaled it is likely to raise the rate 2 more times this year.
The full Fed statement is here.
-RW
It's going to be a lot of fun watching the Fed try to keep a handle on things as inflation takes off.
ReplyDeleteIf it does there may be a slim hope we dont crash and burn in a much bigger fireball later.
DeleteWhere are all those Austrian lites hanging out theses days I wonder?
ReplyDelete