The New York Times, March 16, 2022, Fed raises rates and projects six more increases in 2022
The Federal Reserve lifted its key interest rate by a quarter of a percentage point on Wednesday as policymakers took their first decisive step toward trying to tame rapid inflation by cooling the economy.
The Fed had kept rates near zero since March 2020, and the decision marked its first increase since 2018. Policymakers also projected six more similarly sized increases over the course of 2022 as inflation comes in at a 40-year high, signaling that they are going to pull back support for the economy markedly.
