Fed: Central bank likely to raise rates in 2023
The Federal Reserve “signaled that the pace of the U.S. economic recovery from the pandemic” could make the central bank raise rates earlier than projected said Matthew Boesler and Craig Torres in Bloomberg.com. Meeting this week for the first time since a 5 percent inflation surge was reported in May, most officials on the Federal
Open Market Committee saw the likelihood of two rate hikes in 2023. While the outlook was more hawkish than many analysts anticipated, Chairman Jerome Powell cautioned that specific discussions of rate increases were still “highly premature.”