In its latest move to tame inflation, the Federal Reserve announced that it will raise the target range for the federal funds rate to between 3.75% and 4% on Wednesday, marking the sixth increase this year.
The Federal Reserve continued its efforts to curb rising inflation on Wednesday, announcing that it will raise the target range for the federal funds rate to between 3% and 3.25%, marking yet another 0.75% increase following similar actions in June and July.
On Wednesday, the Federal Reserve announced it will raise the federal funds rate to a range between 2.25% to 2.5%, marking a 0.75% jump and its fourth increase this year.
On Wednesday, the Federal Reserve made its third hike to the federal funds rate in 2022, increasing the rate to a range between 1.5% and 1.75%. According to Yahoo Finance, the 0.75 percentage point increase was “the largest move [the Fed] has made in a single meeting since 1994.”
On Wednesday, the Federal Reserve unveiled its plan to raise the federal funds rate to 0.75% to 1%. According to Yahoo Finance, the 0.5% hike was “the most aggressive increase made in a single meeting since May 2000.”
The board of governors of the Federal Reserve and the Office of the Comptroller of the Currency approved Citizens Financial Group’s previously announced acquisition of Investors Bancorp.
On Wednesday, the Federal Reserve unveiled its plan to increase the federal funds rate to 0.25% to 0.5%. According to the Wall Street Journal, the Fed last increased interest rates in 2018.
The Federal Reserve approved the merger of equals transaction between Old National Bancorp and First Midwest Bancorp, following the approval the companies received last year from the Office of the Comptroller of the Currency and stockholders of both companies.
The U.S. economy is moving from a post-reopening boom phase toward a moderating period, which, depending on policy prescription, may end up feeling like a mid-cycle slowdown in the second half of 2022, according to Mitsubishi UFJ Financial Group.
The board of governors of the Federal Reserve provided regulatory approval of the previously proposed merger of Webster Financial and Sterling Bancorp.