USA: The Fed opts for a rate hike of three quarters of a point | Photo credits: Istock
WASHINGTON, Sept 21 (Reuters) – The U.S. Federal Reserve on Wednesday raised the federal funds rate target by three-quarters of a percentage point to 3.00%-3.25% and said it expects further rate hikes. rate, its projections giving the “fed funds” rate at 4.40% at the end of the year and 4.60% in 2023 in an attempt to bring down inflation.
“The Committee is firmly committed to bringing inflation back to its 2% target,” the U.S. central bank said in statement announcing the third consecutive 75 basis point rate hike decided by its policy committee. monetary policy, the FOMC (Federal Open Market Committee).
The Fed “expects further increases in the rate target to be appropriate,” she added.
The institution’s chairman, Jerome Powell, is due to comment on the FOMC’s decisions and forecasts at a press conference from 6:30 p.m. GMT.
(Report Howard Schneider and Ann Saphir, French version Marc Angrand)