Fed Raises Interest Rate By Only Quarter-Point
Washington, SC, February 2, 2023-"The Federal Reserve nudged up short-term interest rates by a quarter-percentage point and signaled it was on track to do so again at its meeting next month while officials consider whether and when to pause increases late this spring,” reports the Wall Street Journal.
“The decision Wednesday to raise the Fed’s benchmark federal-funds rate followed six larger, consecutive increases to combat inflation, which hit a 40-year high last year. Officials raised rates by a half point in December and by 0.75 point in November.
“Despite signs that wage and price growth might have peaked several months ago, ‘We’re going to be cautious about declaring victory and sending signals that we think that the game is won,’ he said."