The Fed has aggressively increased the interest rates seven times since last March to curb the multi-decade high inflation. The current Fed funds rate is between 4.25% and 4.5%.
While the Federal Reserve has raised interest rates to the highest level in 15 years, December’s jobs report showed the labor market remained strong, with nonfarm payrolls increasing by 223,000 and, on an unrounded basis, the unemployment rate coming in at 3.468%, the lowest since 1969.
