Fed Raises Rates 25 Bps, Signals Further Hikes Ahead

The transcript discusses the Federal Reserve's recent decisions on interest rates, indicating a range of 4.75% to 5% with no anticipated ongoing rate increases. The committee suggests additional policy firming may be needed, acknowledging the banking system's resilience but noting potential tighter credit conditions. The dot plot shows a median terminal rate of 5.1%, with projections for future rate decreases. Economic projections include slight growth, lower unemployment, and higher inflation for 2023, with changes expected in 2024. The statement was unanimous.

What changes are expected in economic growth and unemployment in 2024?

What was the consensus regarding the statement made by the committee?