Fed signals rate hike imminent

New York, Dusseldorf The US Federal Reserve (Fed) is still keeping interest rates constant, but is signaling an imminent end to the ultra-loose monetary policy. The Federal Reserve announced this on Wednesday. The key interest rate is currently in the range from zero to 0.25 percent.

Fed Chair Jerome Powell has delayed the move for a long time. But with inflation stubbornly stubborn, the Fed will act now. The central bank is likely to raise interest rates as early as mid-March and to do so several times over the course of the year.

Central bankers basically “believe that we could raise rates in March,” Powell said after Wednesday’s monetary policy meeting. The Fed is assuming that the economic data may be somewhat weaker due to the Omicron variant. But that is probably only a temporary effect. The job market is tremendously strong, Powell said, and will remain strong for quite some time.

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