Fed Hikes Rates Again by 75 Basis Points

The transcript discusses the Federal Reserve's decision to adjust the lending rate and update its statement. The committee anticipates ongoing increases in the target range to achieve a restrictive monetary policy stance, aiming to return inflation to 2% over time. They will consider cumulative policy tightening, economic activity, and financial developments in future rate decisions. The economic assessment remains unchanged, highlighting modest growth, robust job gains, and elevated inflation. Russia's war is noted for its impact on inflation and global economic activity. The decision was unanimous, with no mention of the balance sheet.

What adjustments did the committee make regarding the pledge for future increases in the target range?

How does the committee plan to determine the pace of future increases in the target range?

What economic factors will the committee take into account according to the statement?

What was the committee's assessment of the current economic situation?

What external factor was mentioned as impacting inflation and global economic activity?