Key takeaways from U.S. Federal Reserve’s decision to raise interest rates

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsEconomyKey takeaways from U.S. Federal Reserve's decision to raise interest ratesThe Federal Reserve said the policy action 'will support a timelier return to the committee's two per cent goal'Author of the article:Last updated 25 minutes ago The U.S. Federal Reserve Building in Washington, DC, May 3, 2023. Photo by SAUL LOEB/AFP via Getty ImagesHere are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday:THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountFederal Open Market Committee votes unanimously to raise its benchmark interest rate to a target range of 3.75 per cent – four per cent“Dot plot” of rate projections shows 16 of 18 officials expect to raise interest rates at least one more time by the end of 2026, with four pencilling in two additional rate hikes and the median forecast drifting up to 4.1 per cent from 3.75 per cent in June; the median official saw rates remaining at 4.1 per cent in 2027, though eight officials saw them at 4.4 per centFed says Wednesday’s policy action “will support a timelier return to the committee’s two per cent goal”SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againMedian Fed official sees core inflation at 3.4 per cent by end of 2026, up slightly from 3.3 per cent forecast in June; sees GDP growth of 2.3 per cent, compared with 2.2 per cent previouslyFed says “While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient,” and repeats that “productivity growth is strong, and capital investment is robust”Fed repeats job gains “have kept pace with the workforce, and the unemployment rate has changed little”—With assistance from Andrew Ackerman.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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