Fed Raises Rates to Highest Level in 22 Years

The transcript discusses the current federal funds rate, which is the highest in 22 years. The Federal Reserve's statement indicates a shift from pausing to assessing additional information for monetary policy. The economic assessment remains largely unchanged, with moderate activity growth, robust job gains, low unemployment, and elevated inflation. Tighter credit conditions may impact economic activity, hiring, and inflation, but the extent is uncertain. The committee remains attentive to inflation risks, with no change to quantitative tightening, and the decision was unanimous.

What does the statement say about inflation risks?

What was the conclusion of the decision made by the Committee?