Us interest rate news

Here are the latest news and updates on US interest rates:

Current Interest Rates:

Recent Interest Rate Changes:

On March 21, 2023, the Federal Reserve raised the federal funds target rate by 0.25% to a range of 1.50% - 1.75%.
On February 1, 2023, the Federal Reserve raised the federal funds target rate by 0.25% to a range of 1.25% - 1.50%.
On December 14, 2022, the Federal Reserve raised the federal funds target rate by 0.50% to a range of 1.00% - 1.25%.

Interest Rate Expectations:

The market is expecting the Federal Reserve to raise interest rates several more times in 2023, with the median forecast calling for a total of 4-5 rate hikes.
The Federal Reserve has indicated that it will continue to monitor inflation and economic data to determine the pace of future rate hikes.

Inflation and Economic Data:

The Consumer Price Index (CPI) rose 0.4% in February 2023, following a 0.6% increase in January. The core CPI, which excludes food and energy prices, rose 0.3%.
The Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation measure, rose 0.3% in January 2023.
The unemployment rate fell to 3.6% in February 2023, the lowest level since May 2022.
GDP growth slowed to 2.1% in the fourth quarter of 2022, down from 3.2% in the third quarter.

Impact on Markets:

The recent interest rate hikes have caused bond yields to rise, which has led to a decline in bond prices.
The stock market has been volatile in recent weeks, with the S&P 500 index falling 3.5% in February 2023.
The dollar has strengthened against other major currencies, while gold and other commodities have fallen in value.

Fed Chairman Jerome Powell's Comments:

In a recent speech, Powell emphasized the importance of keeping inflation under control and indicated that the Fed is prepared to take further action if necessary.
Powell also noted that the Fed is closely monitoring the labor market and economic data to determine the pace of future rate hikes.

I hope this information is helpful!