Federal Open Market Committee (FOMC) meeting which will take place November 2, 2022, US time. decided the benchmark interest rate range of the Fed Funds Rate 75 basis points to 3.75 – 4%. With this decision, the Fed has raised its benchmark interest rate by 75 bp at the fourth consecutive meeting. This is also the highest interest rate level since 2008.
In a statement following the rate decision, the Fed said that continued rate hikes would likely be needed for inflation to return to the Fed's target of 2 percent.
In a statement following the rate decision, the Fed said that continued rate hikes would likely be needed for inflation to return to the Fed's target of 2 percent.
