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Essentials of Monetary Policy

The Fed Holds Again, but Signals One Last Increase

September 20, 2023
Francis Généreux
Principal Economist

  • The Committee decided to maintain the target for the federal funds rate in a range of 5.25% to 5.50%.
  • As expected, the Fed held rates steady today. It also signalled that at least one more hike is possible. It will all depend on how the economy and inflation evolve between now and the next two meetings.

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