To combat inflation, the Fed pushed up its benchmark rate over the course of 10 consecutive meetings before the one in June, with the rate rising from near 0% in early 2022 to a recent range of 5% to 5.25%. Despite the break in rate increases, the Fed is likely to raise rates a bit more as it continues the drive toward its goal of a 2% inflation rate. In May (the most recent month for which data was available at press time), the Consumer Price Index rose 4% from a year earlier. And core inflation-which excludes prices from the volatile energy and food sectors-has been more difficult to tame, rising at a 5.3% yearly rate in May. Following the June meeting, most Fed officials expected two more rate increases of one-quarter of a percentage point each in 2023.
Denne historien er fra September 2023-utgaven av Kiplinger's Personal Finance.
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Denne historien er fra September 2023-utgaven av Kiplinger's Personal Finance.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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