Fed downshifts to half-point hike, sees 5.1% rate next year

The Federal Open Market Committee raised its benchmark rate by 50 basis points to a 4.25% to 4.5% target range. Policymakers projected rates would end next year at 5.1%, according to their median forecast, before being cut to 4.1% in 2024 -- a higher level than previously indicated.

from Stocks-Markets-Economic Times https://ift.tt/At3BMLY