{"id":1651578,"date":"2022-09-21T14:49:56","date_gmt":"2022-09-21T18:49:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1651578"},"modified":"2022-09-21T14:50:35","modified_gmt":"2022-09-21T18:50:35","slug":"federal-reserve-predicts-economy-will-slow-to-a-crawl-hikes-interest-rate-again","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-predicts-economy-will-slow-to-a-crawl-hikes-interest-rate-again\/","title":{"rendered":"Federal Reserve Predicts Economy Will Slow to a Crawl, Hikes Interest Rate Again"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-reserve-predicts-economy-will-slow-to-a-crawl-hikes-interest-rate-again%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1651578&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <a class=\"\" href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a> <\/p>\n<p class=\"article-excerpt\">Fed also expects unemployment to rise<\/p>\n<p>   Getty Images   <a href=\"https:\/\/freebeacon.com\/author\/reuters\/\" title=\"Posts by Reuters\" class=\"author url fn text-red-700\" rel=\"author\">Reuters<\/a> \u2022 September 21, 2022 2:42 pm  <\/p>\n<p>By Howard Schneider and Ann Saphir<\/p>\n<p>WASHINGTON (Reuters) \u2014 The Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023 to battle continued strong inflation.<\/p>\n<p>The U.S. central bank&#8217;s quarterly economic projections, meanwhile, showed the economy slowing to a crawl in 2022, with year-end growth at 0.2%, rising to 1.2% in 2023, well below the economy&#8217;s potential. The unemployment rate, currently at 3.7%, is projected to rise to 3.8% this year and to 4.4% in 2023. Inflation is seen slowly returning to the Fed&#8217;s 2% target in 2025.<\/p>\n<p>Rate cuts are not foreseen until 2024.<\/p>\n<p>U.S. stocks pared gains following the release of the policy statement while the dollar hit a fresh two-decade against a basket of currencies. In the U.S. Treasury market, which plays a key role in the transmission of Fed policy decisions into the real economy, yields on the 2-year note reached their highest levels since 2007. The yield on the 10-year note also rose to a level not seen since 2011.<\/p>\n<p>The federal funds rate projected for the end of this year signals another 1.25 percentage points in rate hikes to come in the Fed&#8217;s two remaining policy meetings in 2022, a level that implies another 75-basis-point increase in the offing.<\/p>\n<p>&#8220;The committee is strongly committed to returning inflation to its 2% objective,&#8221; the Fed said in a statement announcing its third consecutive 75-basis-point hike, which is considerably higher than the quarter-percentage-point increases typical of the U.S. central bank.<\/p>\n<p>The Fed &#8220;anticipates that ongoing increases in the target range will be appropriate,&#8221; the statement from its policymaking Federal Open Market Committee said, repeating language from its previous statement in July.<\/p>\n<p>The updated projections point to an extended Fed battle to quell the highest<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Reuters) \u2014 The Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023 to battle continued strong inflation.<br \/>\nThe post Federal Reserve Predicts Economy Will Slow to a Crawl, Hikes Interest Rate Again appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1651578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1651578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1651578"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1651578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1651578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1651578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1651578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}