Salem Radio Network News Monday, February 6, 2023


Fed raises key rate by half-point and signals more to come


The Federal Reserve has raised interest rates by a half-point in its continuing efforts to combat inflation. For the seventh time this year, the Fed increased its key interest rate. But with inflation showing signs of easing, it was a smaller hike than in the previous four meetings of the nation’s central bank. The benchmark interest rate was boosted a half-point to a range of 4-and-a-quarter percent to 4-and-a-half percent — its highest level in 15 years. Fed officials also indicated that more interest rate increases are likely on the way in 2023.

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Steve Breen
Thu, Feb 2, 2023