The Federal Reserve building in Washington, January 26, 2022.by a quarter percentage point Wednesday, its first hike since December 2018, as the U.S. central bank looks to tamp down historically high inflation. The Fed's policymaking arm indicated it sees additional rate increases at its six remaining meetings in 2022. That suggests a consensus funds rate by year-end of 1.9%.
It also may start reducing its balance sheet in May, chief Jerome Powell said at a news conference, suggesting the process could have an impact equal to an additional rate hike. Central bankers' projections for inflation in 2022 rose, while they trimmed their GDP growth expectations to 2.8% from 4%.Oil pumping jacks, also known as"nodding donkeys," in a Rosneft Oil oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020.
Source: News Formal (newsformal.com)
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