Fed Raises Rates by a Quarter Point, Signals More Ahead

The video discusses the Federal Reserve's decision to raise the federal funds target range by 25 basis points, with plans for further increases. The Fed aims to return inflation to 2% while maintaining a strong labor market. The impact of the Ukraine invasion on the US economy is uncertain but expected to increase inflation pressure. Economic growth forecasts have been revised down, with unemployment expected to remain stable. The Fed's long-term rate is projected at 2.4%, with one dissenting vote from Jim Bullard, who favored a larger rate increase.

What is the projected PCE inflation rate for 2023?

Who is the dissenting Fed President and what does he believe regarding the rate increase?