Jerome Powell, chairman of the Federal Reserve, at a Senate Banking Committee hearing on Dec. 1, 2020.June 16, 2021, 8:06 PM UTCThe Federal Reserve opted to keep interest rates steady Wednesday, but drastically raised its forecast for inflation and shifted up the timeline for a rate hike.
“This is not what the market expected,” James McCann, deputy chief economist at Aberdeen Standard Investments, told CNBC. “The Fed is now signaling that rates will need to rise sooner and faster, with their forecast suggesting two hikes in 2023. This change in stance jars a little with the Fed’s recent claims that the recent spike in inflation is temporary.”
In a significant shift, a number of Fed officials indicated that two rate hikes could come as soon as 2023. That is a departure from, which saw no change in the benchmark interest rate before 2024. The Fed's lending rate stands at 0 percent to 0.25 percent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Despite 5% Inflation, Fed Not Expected To Raise RatesLast month, inflation hit its highest level in over a decade. Despite this, the markets and policy-makers don't see rates rising in 2021
Source: Forbes - 🏆 394. / 53 Read more »
Fed holds interest rates steady, raises inflation forecastThe Fed dramatically raised its forecast for inflation and shifted up the timeline for a rate hike. DUH...DUH...DUH. WHO IS REALLY SURPRISED NO ONE ON THE LEFT...
Source: YahooNews - 🏆 380. / 59 Read more »
Fed gives money funds relief with short-term rate adjustmentsThe Federal Reserve on Wednesday gave relief to money market investors that have been struggling to find high-quality short-term assets by raising two key short-term rates. 정직으로 만민에게 판결을 내리시는 하나님 EternityIsYonder
Source: Reuters - 🏆 2. / 97 Read more »
Asia circles the wagons ahead of Fed, oil eyes 2019 highAsian shares retreated slightly on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money.
Source: Reuters - 🏆 2. / 97 Read more »
Stocks fall from records ahead of Fed decision on ratesU.S. stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets. Oh....no...?
Source: latimes - 🏆 11. / 82 Read more »
European markets head for higher open as markets await Fed outcomeEuropean stocks are expected to open slightly higher, as markets await the outcome of the U.S. Federal Reserve's policy meeting on Wednesday. Neloangelo413 nice Please print more money. We need it.
Source: CNBC - 🏆 12. / 72 Read more »