After the interest rate pause in mid-June, the US Federal Reserve signaled another rate hike. “Almost all” members of the monetary policy committee expected further hikes in 2023, according to the published minutes (Minutes) of the latest decision on June 14. Even then, some members would have advocated a further increase, but then joined the majority opinion for a break.
At its most recent meeting, the US Federal Reserve left the key interest rate range between 5.0 and 5.25 percent. In March 2022, this was still just above the zero line. Since then, the Fed has raised interest rates sharply.
US Federal Reserve Chairman Jerome Powell recently described further interest rate hikes as likely to be necessary in the fight against high inflation. Initially, they only slowed down the pace of the increases. The future dates are crucial.
