Fed to address inflation with one rate hike this year
The Federal Reserve officials are divided on the number of rate hikes needed to address persistent inflation.
Historically, the Fed tends to move in rate cycles, adjusting policy multiple times to meet its goals.
The last meeting featured an update on participants’ views on rates and key economic metrics, with a dramatically shortened statement that stated the Committee will deliver price stability.
The committee’s rate expectations, as shown in the dot plot grid, lean towards a hike before the end of the year.