*FOMC STATEMENT:*
- The Fed raised rates by 25 bps to 3.75%–4.00%.
- The vote was 12–0. No dissents.
- Inflation is still too high.
- The Fed says this hike will bring inflation back to 2% faster.
- The economy is growing at a solid pace and spending has held up.
- Hiring is keeping up and unemployment has barely moved.
- Productivity and business investment are strong.
- The Fed says it will deliver price stability.
Overall tone: Hawkish.
- The Fed raised rates by 25 bps to 3.75%–4.00%.
- The vote was 12–0. No dissents.
- Inflation is still too high.
- The Fed says this hike will bring inflation back to 2% faster.
- The economy is growing at a solid pace and spending has held up.
- Hiring is keeping up and unemployment has barely moved.
- Productivity and business investment are strong.
- The Fed says it will deliver price stability.
Overall tone: Hawkish.