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Norbert Michel: The Most Recent Inflation Trend Matters The Most
On Wednesday, the Fed officially raised its rate target by three quarters of a percentage point, increasing the rate it pays on reserve balances to 3.15 percent (up from 2.4 percent in July). Predictably, most of the news reports sound terribly bleak. One headline proclaimed that the Fed lifted rates "to curb runaway inflation."
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Posted: September 26, 2022 Monday 06:21 AM