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09/21/2022 19:00:01[BN] 

Key Takeaways From Fed Decision to Raise Rates 75 Basis Points

By Scott Lanman

(Bloomberg) —  Here are key takeaways from the Federal Reserve’s interest-

rate decision and economic projections on Wednesday: TOPLive in Progress

Fed raises its main rate 75 basis points, as anticipated, to a range of FOMC Rate Decision and Fed

3% to 3.25%, while new projections from officials show a median Chair News Conference

estimate of 4.4% at the end of 2022 and 4.6% at the end of 2023

While Wednesday’s decision was unanimous, the dot plot shows 10-9

majority in favor of hiking above 4.25% this year, suggesting a fourth

straight 75 basis-point increase in November is possible

Policy makers expect rates will be cut in 2024, to about 3.9%, and to

2.9% in 2025

Statement is virtually identical to prior FOMC meeting in July; Fed

09/21 18:45

says recent indicators “point to modest growth” in spending and

production, compared with July’s language that the data had Follow the Blog | TLIV »

“softened”

GDP growth forecasts marked down to 1.2% in 2023 and 1.7% in 2024,

below the longer-run trend; unemployment seen rising to 4.4% in

2023 LIVE Event Coming Up

Fed Chair Powell at FOMC

For Bloomberg’s TOPLive blog on the Fed decision and press conference, click

News Conference

here