Planning Briefs
A Sign Of Progress In Solving U.S. Economic Problems
Published Friday, December 22, 2023 at: 12:56 PM EST
The Federal Reserve appears to be pulling off a feat most experts did not believe it could: ending its aggressive inflation-fighting campaign of 11 interest rate hikes without tipping the U.S. economy into a recession.
The Covid-19 pandemic was followed by two huge federal stimulus programs and supply-chain disruptions in 2020 and 2021. Then, oil prices soared in 2022 after Russia invaded Ukraine. In response, the Fed hiked the lending rate it charges the nation’s largest banks from a quarter of 1% in March 2022 to 5.25% in July 2023.
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