The U.S. Federal Reserve raised its target Fed funds rate by 0.25% earlier this month, its first interest rate hike since 2018. The Fed's updated dot plot projections are calling for six more 0.25% rate hikes in 2022, but the latest comments from Fed Chair Jerome Powell suggest the Fed may be even more aggressive with its rate hikes in the near term.
Powell's Latest Comments: On Monday, Powell told the National Association for Business Economics, “If we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so.”
