URGENT: U.S. Fed indicates 3 rate hikes next year, to quicken tapering

Politics Economy

The U.S. Federal Reserve on Wednesday hinted at three interest rate hikes next year while deciding to accelerate the tapering of its massive bond-buying program amid growing concerns over rising inflation. After a two-day meeting of the policy-setting Federal Open Market Committee, the bank said it will begin reducing its monthly purchases in Treasuries and mortgage securities by $30 billion, up from the $15 billion announced in November. Its latest summary of economic projections showed 17 of the 18 Fed policymakers are now anticipating rate hikes in 2022 from the current near-zero rate, comp...

Kyodo News

Kyodo News