Fed Says Rate Hikes Will Speed Inflation’s Return to 2%
JH Kim
Summary
- The Federal Reserve said inflation remains elevated and that rate hikes will help bring inflation back to the 2% target.
- The Federal Open Market Committee said rate hikes will support a more timely return of inflation to 2%.
- The Fed said that despite uncertainty about the economic outlook, U.S. consumer spending, productivity growth, and capital investment remain strong or stable.
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 Sept. 16, the Federal Open Market Committee said rate hikes “will support a more timely return of inflation to 2%.”
The Fed said uncertainty about the economic outlook persists, but U.S. consumer spending remains strong.
It also said productivity growth has remained solid and capital investment has held at a stable level.
JH Kim
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