❗️The FED has taken a pause in rate hikes.❗️

The U.S. Federal Reserve decided at the June 13-14 meeting to leave the rate at the current level - after 10 consecutive hikes since last March.

During this period, the interest rate rose from 0-0.25% to 5-5.25%, the most aggressive series of increases since the 1980s.

Prior to that, the rate had been at about zero for two years.

During the press conference following the monetary policy meeting, FED Chairman Jerome Powell said that the full effects of monetary policy tightening have yet to be felt and some further rate hikes are likely to be appropriate this year. Nearly all Fed members consider further hikes this year to be "appropriate." Inflation remains well above the 2% target. To get inflation back to the 2% target, the FED "has a long way to go."

The next U.S. Federal Reserve interest rate decision is expected after the July 25-26 meeting.
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