Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they're willing to tolerate a recession as the necessary trade-off for regaining control of inflation.
Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they're willing to tolerate a recession as the necessary trade-off for regaining control of inflation.

Fed hikes again by 75 basis points, hints at entering end phase

The Fed’s most forceful tightening campaign since the 1980s is beginning to cool some parts of the economy, particularly in housing. But policymakers have yet to see meaningful progress on inflation.
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By Jonnelle Marte

(Bloomberg) — Federal Reserve officials delivered their fourth straight 75 basis-point interest-rate increase while also signaling their aggressive campaign to curb inflation could be approaching its final phase.

The Fed said that "ongoing increases" will likely be needed to bring rates to a level that is "sufficiently restrictive to return inflation to 2% over time," according to the Federal Open Market Committee's statement released in Washington Wednesday following a two-day meeting.

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