Meeting minutes of the Fed released Wednesday showed a strong commitment to two .5% hikes in June and July. This will follow a May 4th hike of .5% to a target range between .75% and 1.00%, as the Fed struggles to contain rampant inflation. Higher rates are designed to contain inflation by increasing the cost to borrow money, which reduces the buying power of American consumers, and makes sellers reduce prices or contain price hikes, to maintain sales.
“Most participants judged that 50 basis point increases in the target range would likely be appropriate at the next couple of meetings,” read the minutes from the May meeting.
More at: https://www.thefinancialtrends.com/2...-two-meetings/
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