New York The US Federal Reserve is still keeping interest rates constant, but is signaling an imminent hike. The Federal Reserve announced this on Wednesday. The key interest rate is currently in the range from zero to 0.25 percent.
Fed Chair Jerome Powell is worried about stubbornly high inflation and has signaled an end to the loose stance. The central bank is likely to raise interest rates as early as mid-March and will do so several times over the course of the year.
The prerequisite is the halt to the major asset purchase program introduced during the pandemic, the end of which has now been sealed by the Fed.
The monthly rate of reductions in acquisitions has already doubled to $30 billion as of mid-January. This maneuver, known as tapering, is now expected to be completed in early March, paving the way for a rate hike.
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