The Federal Reserve Open Market Committee raised the fed funds rate today by another 0.75%, to a new range of 2.25-2.50%. The vote was unanimous, with no dissents, unlike June’s meeting.
The formal statement language changed little, but noted ‘recent indicators of spending and production have softened’. However, job markets were still described as ‘robust’, and inflation remains ‘elevated’. The war in Ukraine…..
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July 27, 2022
