Federal Reserve meeting —
At its 22 March 2023 meeting, the Federal Reserve raised its policy rate from 4.50–4.75% to 4.75–5.00%. The decision passed 11-0.
Decision
hike — 4.50–4.75% to 4.75–5.00%
Vote: 11-0
Key passages
Recent indicators point to modest growth in spending and production. Job gains have picked up in recent months and are running at a robust pace; the unemployment rate has remained low. Inflation remains elevated.
The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain.
Meeting documents
Background reading
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