It indicated that central bankers would wait and see whether further hikes were needed rather than assuming that they would be necessary.
The Fed’s announcement on Wednesday also comes at a time of potential economic instability in the United States over the future of the country’s debt ceiling as well as concerns over some regional banks.Earlier this week that the US Treasury announced that the United States could run out of money to pay its bills by the beginning of June if Congress did not raise or suspend the debt limit.
“Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. ”“The committee seeks to achieve maximum employment and inflation at the rate of two per cent over the longer run. In support of these goals, the committee decided to raise the target range for the federal funds rate to 5 to 5.25 per cent.
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