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Year-on-year inflation bottomed at 5% in December 1976 before moving higher once again. Paul Volcker was chosen as Fed Chairman in 1979 in order to deal with the challenge of high inflation. In a rare Saturday press conference on October 6, 1979, [6] Paul Volcker's federal reserve increased the Fed Funds rate from 11% to 12%. [7]
In December, the market cheered after hopes for rate cuts were restored following pleasing inflation numbers. But economic growth projections for 2024 had fallen to 1.4% from September’s 1.5% ...
When the Fed last issued its dot plot in September, the median forecast was for the fed funds rate to end 2025 in a range of 3.25% to 3.5%. Instead of the four rate cuts in 2024 projected back in ...
The unemployment rate has risen modestly since the Fed began aggressively raising rates in March of 2022, but at 4.2% remains below the national long-run average and right at the level the median ...
1995-1997: The Boom Continues. The period from 1995 through 1997 was relatively uneventful for the U.S. economy. The FOMC adjusted the federal funds rate a number of times, first downward to ...
The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four ...
The Fed hiked the federal funds rate (overnight interest rates) to a two-decade high of 5.33% between Mar. 2022 and Aug. 2023, in order to tame an inflation surge that resulted from pandemic ...
The Federal Reserve has most likely completed its most aggressive rate-hiking campaign in four decades, bringing interest rates to a 23-year high of 5.25-5.5 percent after 11 rate hikes.