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ICICI Direct Report
The U.S. Federal Reserve decided to raise interest rates by 50 basis points to a range of 4.25-4.50% and signalled plans to lift rates though spring.
The U.S. central bank signalled that magnitude of the hikes may be smaller but may ultimately move to higher levels than anticipated.
Federal Open Market Committee decided to continue with its balance sheet reduction as announced in May 2022.
U.S. Federal Reserve Chair Jerome Powell said no officials had projected rate cuts next year and that they were unlikely to consider lowering interest rates until policymakers were confident inflation is moving down to the Fed's 2% goal in a sustained fashion.
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