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    Home ยป Inflation Forces Fed to Move Interest Rate Hike Date Forward to 2023
    Forex News

    Inflation Forces Fed to Move Interest Rate Hike Date Forward to 2023

    June 17, 20211 Min Read
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    Inflation Forces Fed to Move Interest Rate Hike Date Forward to 2023
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    The Fed has re-evaluated its inflation expectation and moved its next interest rate increase date forward.

    • Fed Chairman Jerome Powell said discussions have been held on reduction of bond-buying by the central bank, though a date as to when the exercise would begin was not given.
    • Policymaking Fed Open Market Committee in unison omitted its baseline short-term borrowing rate fixed at almost zero, officials however said the increase in rates could be as early as 2023.
    • In March, Fed had suggested 2024 as the earliest the rate increases could be implemented.

    Fed has increased its total inflation expectations to 3.4%, a whole percentage more than projected in March, though still maintained its stance that price increments are only temporary.

    SPY is down 0.56%, EURUSD is down 0.45%

    Source: Federal Reserve

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