Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Chairman Powell speaks after Fed hikes interest rates by 0.75% to fight inflation -- 9/21/2022 - CNBC
The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.
In its quest to bring down inflation running near its highest levels since the early 1980s, the central bank took its federal funds rate up to a range of 3%-3.25%, the highest it has been since early 2008 following the third consecutive 0.75 percentage point move.
The increases that started in March and from a point of near-zero mark the most aggressive Fed tightening since it started using the overnight funds rate as its principal policy tool in 1990. The only comparison was in 1994, when the Fed hiked a total of 2.25 percentage points; it would begin cutting rates by July of the following year.
============
Chairman Powell also spoke about various issues such as housing affordability, the strength of the economy, international central banks, and inflation. There are many segments that break the speech into segments along with additional analysis and commentary at the CNBC Website: https://www.youtube.com/c/CNBCtelevision/videos
