One year after the first rate hike, the Fed stands at policy crossroads


U.S. Federal Reserve Chair Jerome Powell responds to a question from David Rubenstein (not pictured) during an on-stage discussion at a meeting of The Economic Club of Washington, at the Renaissance Hotel in Washington, D.C., U.S, February 7, 2023. REUTERS/Amanda Andrade-Rhoades

Amanda Andrade-rhoades | Reuters

The Federal Reserve is one year down its rate-hiking path, and in some ways it’s both closer and further away from its goals when it first set sail.

Exactly one year ago, on March 16, 2022, the Federal Open Market Committee enacted the first of what would be eight interest rate increases. The goal: to arrest a stubborn inflation wave that central bank officials spent the better part…


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