WASHINGTON (AP) — Even after inflation has steadily eased this year, the Federal Reserve’s policymakers still think prices are rising too fast and are almost certain to lift their key interest rate by a quarter-point on Wednesday. A rate increase, the 11th in 17 months, would raise the Fed’s short-term rate to roughly 5.3%, the highest level since 2001.
A Fed Still Wary Of Inflation Is Set To Raise Rates To A 22-year Peak. Will It Be The Last Hike?
Christopher S. Rugaber, Denver Post
Wed, 07/26/2023 - 6:28am
Topics: washington ap even federal reserve s inflation chair jerome powell august wyoming he s jackson hole ellen meade duke university though powell november the fed european central bank states the bank japan england europe u.k on friday u.s a as in fed fed s june powell sept jackson hole bank raise rates peak hike expected year wednesday consumer prices earlier policymakers economy government compared higher high month costs roughly decisions price months gauge data skip stayed reports steadily countries target unemployment similar news officials slow recession credit key economists
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