Fed Rate Hike Smallest Since March 2022: Inflation Eases but Remains Elevated
Portfolio Manager Jeffrey Rosenkranz Joins GOBankingRates to Discuss Recent Rate Hike
As was expected, the Federal Reserve dialed back its hike, unanimously stating on Feb. 1 that it would raise interest rates by a quarter point for its first meeting of 2023. This is the eighth (and smallest) rate increase since March 2022.
“Ultimately the Fed is going to overcorrect to make sure the job is done once and for all and worry about cleaning up the mess later. They are frustrated that financial conditions have eased massively, making their task more complicated,” said Rosenkranz.
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