Steel News

We strive to let you one step ahead of the market.

Fed raises another three-quarters of a percentage point to fight inflation

22 Sep 2022 14:35 reported by Ranny Fang

A A A
The Fed launched a 2-day monetary policy meeting and announced another three-quarters of a percentage point hike as expected by the market, raising the benchmark interest rate to between 3.00% and 3.25%, and the interest rate level reached a new high in 2008.

The Fed believed that this is a necessary measure to reduce inflation. It was estimated that it will rise by another 1.25 percentage points before the end of this year, reaching 4.25% to 4.5%, and the terminal rate, or end point, will be next year, at 4.6%.

In addition, the Fed adjusted its economic outlook, downgrading its GDP growth forecast for 2023 and 2024 to 1.2% and 1.7%, respectively. Finally, the inflation rate shall fall to 2.1% in 2025, close to the Fed's 2% inflation target. The Fed may continue to raise interest rates until 2024.

Back to Steel News

Related News

US rail strikes heat up, economy faces uncertainty

  • Finance and economy
  • 2 Dec 2022 15:44

Press Metal's aluminum-related business benefits Q3 financial performance

  • Finance and economy
  • 1 Dec 2022 16:46

India & EU to have third round of FTA talks from Nov 28 to Dec 9

  • Finance and economy
  • 29 Nov 2022 16:42

Australia's free trade deal with India to remove tariffs on exports such as coal and metals

  • Finance and economy
  • 24 Nov 2022 17:22

OECD predicts global growth in 2023

  • Finance and economy
  • 24 Nov 2022 17:13

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 3,056.00
  • 3,050.00
  • Aluminum
  • 2,430.00
  • 2,459.50
  • Copper
  • 8,216.00
  • 8,250.00
  • Nickel
  • 26,900.00
  • 26,900.00

Learn more

Coil Exchange Center

  • 2B Coil-Jan
  • 2,960
  • 2,820
  • NO1 Coil-Jan
  • 2,930
  • 2,790
  • 2B Coil-Jan
  • 2,960
  • 2,820
  • NO1 Coil-Jan
  • 2,930
  • 2,790

Learn more