Fed Raises Rates by 25 Basis Points, Dot Plot Suggests Possible Additional Hike This Year

TechFlow reports that on September 17, according to Jinshi Data, the Federal Reserve announced a 25-basis-point increase in the target range for the federal funds rate to 3.75%-4.00%. In the latest dot plot, 16 of the 18 officials indicated that another rate hike this year is still warranted, sending a clear signal of continued tightening.

The meeting also upgraded economic growth projections for this year and next, while lowering the unemployment forecast, but noted that core inflation remains stubborn. Policymakers emphasized that the future monetary policy path will depend on the evolution of subsequent economic data.