At the conclusion of the Dec 13 and Dec 14 meeting of the Federal Open Market Committee (FOMC), policymakers published new projections showing they expected inflation to end 2023 higher than they previously thought. – AFP
NEW YORK: The US Federal Reserve (Fed) is set to shed more light on why it’s worried that strong inflation may linger as its economy moves into the new year.
At the conclusion of the Dec 13 and Dec 14 meeting of the Federal Open Market Committee (FOMC), policymakers published new projections showing they expected inflation to end 2023 higher than they previously thought. That led to surprisingly widespread support in the projections for the notion that interest rates would need to rise above 5% in 2023.
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