Browsing: FOMC

Economy

In a significant move today, the Federal Reserve announced that it will increase the target range for the federal funds rate to 0.75 to 1%, and signaled that “ongoing increases in the target range will be appropriate.”

Economy

With the U.S. economy experiencing a period of high inflation and with new economic uncertainties prompted by the Russian invasion of Ukraine, Federal Reserve Chairman Jerome Powell today warned that these conditions could push the Federal Open Market Committee’s longer-term expectations “uncomfortably higher,” underscoring a need for the FOMC “to move expeditiously” to raise interest rates.

Community Banking

While the Federal Reserve seeks public comment on the benefits and risks of creating a central bank digital currency, Fed Governor Michelle Bowman said today that she “intends to keep an open mind” about a CBDC but that the use case for it is not readily apparent to her.

Economy

The Federal Reserve will continue to reduce the monthly pace of asset purchases and bring them to an end in early March, according to the latest Federal Open Market Committee statement issued today.

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