Investing.com – The Federal Reserve decided to exit its quantitative easing program faster than expected by keeping interest rates stable between 0% and 0.25%.
According to the median forecast published along with the press release, there are 3 possible rate hikes (0.75%) that could be applied in the next year as opposed to the point charts for September.
In addition, the new projections indicate that MPC members will see three more increases in 2023 and two the following year, which will raise borrowing costs to 2.1% at the end of 2024.
You can follow Governor Jerome Powell’s press conference here:
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