(Bloomberg) -- Here are key takeaways from the Federal Reserve's interest-rate decision and statement on Wednesday:
The Fed unanimously raises its benchmark rate by 75 basis points to a range of 2.25%-2.5%, in line with expectations, and anticipates the further increases in the target rate “will be appropriate.”
In its statement, FOMC acknowledges that “spending and production have softened,” yet also affirms that “job gains have been robust in recent months.”
Russia's war in Ukraine is adding “upward pressure” on inflation as well as weighing on economic activity, Fed says. The FOMC repeats that it's “highly attentive to inflation risks.”
The Fed's balance-sheet reduction process is proceeding as planned with caps on Treasury roll- off doubling to $60 billion a month in September and to $35 billion for MBS
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