The US Federal Reserve’s Open Market Committee decided on Wednesday to raise the federal funds rate by 25 basis points, in a range between 4.50% and 4.75%, in in line with market expectations.
The Fed raised the interest rate 7 times in 2022, in meetings in the months of March, May, June, July, September, November and December.
The Fed cut the pace of rate hikes by 50 points last December and 75 points in November, indicating the success of the Fed’s aggressive campaign to slow inflation.
Before the monetary tightening campaign, the interest rate in March 2022 was between 0.25% and 0.50%.
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