Fed Slows Rate Hikes Even as Powell Says There’s More Work to Do
- Target range raised by 25 basis points to 4.5%-4.75%
- Fed says inflation has eased, but it remains elevated
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Federal Reserve Chair Jerome Powell said policymakers expect to deliver a “couple” more interest-rate increases before putting their aggressive tightening campaign on hold, even as they slowed their drive to curb inflation.
Read about the September 2023 rate decision here.