The Federal Reserve Open Market Committee raised the fed funds rate today by another 0.75%, to a range of 3.00-3.25%. The vote was unanimous, with no dissents.
The formal statement language was hardly changed at all, only noting an upgrade from ‘softening’ to ‘modest growth’ in spending and production. The Fed has hiked by a total of 3.00% so far since they began in March…..
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September 21, 2022
