{"id":1983408,"date":"2023-07-26T17:02:01","date_gmt":"2023-07-26T21:02:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-raises-interest-rates-to-highest-level-in-two-decades\/"},"modified":"2023-07-26T17:03:30","modified_gmt":"2023-07-26T21:03:30","slug":"fed-raises-interest-rates-to-highest-level-in-two-decades","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-raises-interest-rates-to-highest-level-in-two-decades\/","title":{"rendered":"Fed raises interest rates to highest level in 20 years."},"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\">20<\/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%2Ffed-raises-interest-rates-to-highest-level-in-two-decades%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=1983408&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--><h2>The Federal Reserve\u200b Raises Interest Rates to Highest Level in 22 Years<\/h2>\n<p>The \u2064 <a href=\"https:\/\/www.dailywire.com\/topic\/federal-reserve\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> made a bold move on Wednesday by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/goldman-sachs-says-inflation-is-bigger-threat-to-global-economy-than-covid-19\/\" title=\"Goldman Sachs Says Inflation Is Bigger Threat To Global Economy Than COVID-19\">hiking interest rates<\/a> to the highest level seen in 22 years. This decision comes despite easing inflationary pressures.<\/p>\n<h3>Rate Increase\u2062 and Future Policy<\/h3>\n<p>After careful deliberation over two days, \u200cthe Federal Reserve raised the federal funds rate from 5% to a target range of\u2063 5.25% to 5.5%. In a statement, the Fed explained that further rate increases will depend on economic and inflationary indicators. The goal is to achieve a 2% inflation rate while maintaining economic growth.<\/p>\n<blockquote>\n<p>\u201cThe Committee seeks to \u200bachieve maximum employment and inflation at the \u2062rate of 2 percent over\u2064 the longer\u2063 run. In support of \u2064these goals, the Committee decided to raise the \u200ctarget range\u2064 for the federal funds rate to 5-1\/4 to 5-1\/2 percent. The \u200bCommittee will \u2062continue \u2063to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-federal-reserve-eases-up-on-interest-rate-hikes-as-inflation-slowly-cools\/\" title=\"Fed eases rate hikes as inflation cools.\">assess additional information<\/a> and its implications for \u2063monetary policy,\u201d the statement continued.<\/p>\n<\/blockquote>\n<p>The decision to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-raises-interest-rates-to-highest-level-in-two-decades\/\" title=\"Fed raises interest rates to highest level in 20 years.\">hike\u2063 rates received unanimous support<\/a> from the Federal Reserve Board. This move \u2064aligns with the \u200b11 previous rate hikes\u2063 since March of 2022, with only a short pause in June, as reported by \u200d <a href=\"https:\/\/www.cnbc.com\/2023\/07\/26\/fed-meeting-july-2023-.html\">CNBC<\/a>. Fed Chair Jerome\u200d Powell had \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-defends-his-administrations-record-amid-low-approval-numbers-multiple-crises\/\" title=\"Biden Defends His Administration\u2019s Record Amid Low Approval Numbers, Multiple Crises\">previously expressed concerns<\/a> about inflation remaining too high, indicating that more &#8220;restriction&#8221;\u2063 on monetary policy would \u2063likely be necessary.<\/p>\n<h3>Inflation Trends and Future Rate Hikes<\/h3>\n<p>Inflation has shown signs of cooling off in \u2064recent months. \u200bAccording to CNBC, the\u200b consumer price index\u200d settled at 3% on a yearly basis in June, \u2063down from 9.1% in June 2022.\u2064 Despite this, the Federal\u200c Reserve has \u2062maintained an aggressive consecutive hike in interest rates,\u200d reminiscent of the 1980s \u2063when inflation rates were even higher.<\/p>\n<p>The Fed remains committed to bringing inflation down to the target\u2064 of\u2062 2%. The Federal\u2063 Open Market Committee (FOMC) has hinted at further rate hikes in September and November to continue combating inflation.<\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1690455510071000&#038;usg=AOvVaw0zc8zwWGoXeRzcNJLiJVWI\">CLICK HERE TO GET THE \u200dDAILYWIRE+ APP<\/a><\/b><\/p>\n<p>Greg McBride, senior vice president and chief financial analyst for Bankrate, agrees\u2064 with the Fed&#8217;s sentiment. In\u200c an interview with <a href=\"https:\/\/www.nbcnews.com\/business\/economy\/interest-rate-hike-july-2023-how-much-higher-federal-reserve-rcna96210\">NBC<\/a>, he stated, &#8220;Inflation remains stubbornly high.&#8221;<\/p>\n<p>He further explained, \u2063&#8221;The economy\u2062 has been remarkably resilient, the labor market\u2062 is still robust, but that may be contributing to the \u200dstubbornly high \u200dinflation. So, the Fed has to pump\u200d the brakes a bit more.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve raised interest rates to a 22-year high, despite low inflation. After two days of discussion, they increased the federal funds rate from 5% to a target range of 5.25% to 5.5%. The Fed stated that future rate hikes will be based on economic conditions.<\/p>\n","protected":false},"author":1593,"featured_media":1983409,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1983408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983408","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\/1593"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1983408"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1983409"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1983408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1983408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1983408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}