28/07/2022
*FED HIKES INTEREST RATE BY 75 BPS POINTS*
*FEDERAL RESERVE RAISES KEY OVERNIGHT INTEREST RATE 75 BASIS POINTS TO 2.25-2.50%, ANTICIPATES "ONGOING INCREASES" WILL BE APPROPRIATE*
*FED SAYS RECENT INDICATORS OF SPENDING AND PRODUCTION HAVE SOFTENED*
*FED SAYS JOB GAINS HAVE BEEN ROBUST, UNEMPLOYMENT RATE HAS REMAINED LOW*
*FED SAYS INFLATION REMAINS ELEVATED, REFLECTING PANDEMIC-RELATED IMBALANCES, HIGHER FOOD AND ENERGY PRICES, BROADER PRICE PRESSURES*
*FED SAYS BALANCE SHEET REDUCTION WILL ACCELERATE IN SEPT AS PLANNED, WITH MONTHLY CAPS ON RUNOFF RISING TO $35 BLN FOR MBS AND $60 BLN FOR TREASURIES*
*FED SAYS WAR IN UKRAINE CREATING ADDITIONAL UPWARD PRESSURE ON INFLATION, WEIGHING ON GLOBAL ECONOMIC ACTIVITY*
*FED SAYS FOMC IS "HIGHLY ATTENTIVE TO INFLATION RISKS"*
*FED SAYS FOMC IS "STRONGLY COMMITTED" TO RETURNING INFLATION TO 2% GOAL*
FED: Don't see any chance of recession right now
