Fed Says Rate Hikes Will Speed Inflation's Return to 2% Target
Summary
- The Federal Reserve said inflation remains elevated and that rate hikes will help bring inflation back to its 2% target.
- The Federal Open Market Committee said rate hikes would support a more timely return of inflation to 2%.
- The Fed said uncertainty over the economic outlook persists, but U.S. consumer spending, productivity, and capital investment have remained strong or stable.
Forecast Trend Report by Period
The Federal Reserve said inflation remains elevated and that higher interest rates will help bring inflation back to its 2% target.
In a statement on September 16, the Federal Open Market Committee said rate hikes would support "a more timely return" of inflation to 2%.
The Fed said uncertainty over the economic outlook persists, but U.S. consumer spending remains strong.
It added that productivity growth has remained solid and capital investment has held at a stable level.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit