The majority of Fed members forecast three interest rate hikes in 2022 to fight inflation

Here are the Fed's latest targets, released in Wednesday's statement:Arrows pointing outwardsThe Fed also dialed down its GDP projects for this year, according to its Summary of Economic Projections released Wednesday.

The central bank now expects real gross domestic product to grow 5.5% in 2021, down from its estimate of 5.9% growth from the September meeting. The Fed raised its GDP projections to growth of 4.0% in 2022, up from 3.8%. The central bank lowered its GDP projections for 2023 to growth of 2.2%, down from September's project of 2.5% growth in 2023.

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Fed will tighten credit faster and sees 3 rate hikes in 2022 | AP NewsWASHINGTON (AP) — The Federal Reserve will quicken the pace at which it's pulling back its support for the post-pandemic U.S. economy as inflation surges, and it expects to raise interest rates three times next year. Wait so Biden wasn't responsible for inflation. I'll be damned. Not a shocker 🙄 Cool, let us know when we're post-pandemic
Source: AP - 🏆 728. / 51 Read more »