The Federal Open Market Committee (FOMC) will meet again in March. On March 21 and 22, the FOMC will gather to consider the US Federal Reserve’s (Fed) next move regarding a rate hike.

The second FOMC meeting of 2023 will take place in March. The US Fed had previously raised interest rates on Jan 31 and Feb 1 by a 0.25 bps, bringing the Fed funds rate to a range of 4.50%–4.75%

The markets anticipate the Fed will announce a rate increase of the same size on March 22 by increasing rates by 25bps.

The biggest issue for Powell will be to control inflation. While preventing a major economic downturn during his rate hike sessions.

What the policymakers need to observe before halting the degree. Which further the central bank forecasts interest rates will go are the primary concerns.

After surpassing a decades-high inflation rate of 9.1%, the annual inflation rate fell to 6.4% in Jan 2023.