The US central bank (Fed) raises interest rates once again. But cautioned that additional hikes would be required to slow the rate at which prices are rising.

The Fed’s key rate was therefore raised to its highest level in 15 years. A target range of 4.25% to 4.5%.

– US price hikes slows as oil costs decrease – US jobs growth indicates a challenging battle against inflation

Has inflation improved?

Has inflation improved?

The Fed increased rates for the eighth time this year on Wednesday.

Fed economic forecasts

Fed economic forecasts

policymakers on average anticipate that the US economy would expand by just 0.5% in 2023 — far less than historical averages — and that the jobless rate will increase to 4.6%.

“The Fed still remains secretive about the possibility of a recession, but given that most Fed officials consider threats to be tilted to a downside. It’s fair to assume they are much more worried about economic outlook that they’re willing to admit.“

Mr. Powell claimed that the bank was concentrating on inflation, which would ultimately have a much more negative impact on the economy