Looking to tame inflation, which then was running at an annual pace of more than 8%, the Fed began tightening monetary policy in March 2022, eventually hiking rates for 10 consecutive meetings and bringing the fed funds rate from 0-0.25% to the current 5.0-5.25%. Inflation has been gradually slowing over the past year, with Tuesday’s Consumer Price Index (CPI) report showing the rate falling to 4% in May, the slowest in two years. Though that pace remains above the central bank’s 2% target, the Fed has reminded that monetary policy often works with long lags, and as recent rate hikes work their way through the economic pipeline, inflation is likely to fall further.
Related posts
-
National Power Administration ANDE Employees Allegedly Involved in Setting up Illegal Bitcoin Mining Farms in Paraguay
National Power Administration (ANDE) employees have been accused of participating directly in setting up illegal bitcoin... -
Bitcoin ATM installations reach 38k, below the all-time high
The global Bitcoin ATM market has seen significant growth. There are now over 38,000 Bitcoin ATMs... -
The Six-Digit Struggle: What if Bitcoin Falls Short of $100K?
As bitcoin continues to lead the cryptocurrency market, its notable climb beyond previous peaks has drawn...