The Fed forecasts hiking rates as high as 4.6% before ending inflation fight
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, July 27, 2022 in Washington, DC. Drew Angerer | Getty The Federal Reserve will raise interest rates to up to 4.6% in 2023 before the central bank stops its fight against soaring inflation, according to its median forecast released on Wednesday. The central bank on Wednesday raised benchmark interest rates by another three-quarters of a percentage point to a range of 3%-3.25%, the highest since early 2008. related investing news BlackRock's Rieder says Fed should not panic because rate hikes have lagged effect Patti Domm 4 hours ago With inflation still high, the Fed may be a long way from where it can stop hiking Jeff Cox 2 days ago The median forecast also showed that Fed officials expect to hike rates to 4.4% by the end of 2022. With only two policy meetings left in the calendar year, chances are the central bank could conduct another 75-basis-point rate...