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Fed holds rates steady, but raises inflation expectations sharply, makes no mention of taper, and rate indicated to hike as soon as 2023.

However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program,

The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after signaling in March that it saw no increases until at least 2024.

EZ money go brrrrrr. 🥳

Though the Fed raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are “transitory.”

Say the word again Powell.

Transitory. 1 full percentage point. 🥳

submitted by /u/FedTendies
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