CORRECTED: UPDATE1: U.S. Fed indicates 3 rate hikes next year, to quicken tapering

Politics Economy Society

The U.S. Federal Reserve on Wednesday hinted at the possibility of three interest rate hikes next year while deciding to roll back its support for the coronavirus pandemic-hit economy faster than initially planned amid 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, citing "inflation developments and the further improvement in the labor market." The Fed maintained its target r...

Kyodo News

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