Fed hikes 75bps, spending and production softened

FOMC raises federal funds rate target by 75 bps to 2.25-2.50% as widely expected. The decision was by unanimous vote. In the accompanying statement, Fed said that recent indicators of spending and production have “softened”. But job gains have been “robust”. Inflation remains “elevated”. Russia’s war against Ukraine are “creating additional upward pressure on inflation” […]

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