Federal Reserve (Fed). The Fed Kicks Monetary Tightening into High Gear

In March, the Fed initiated liftoff by raising the target for the federal funds rate by 25 basis points. Today, it kicked monetary tightening into high gear with a 50-point hike—the biggest increase since May 2000. This move came as no surprise. Of the 94 analysts surveyed by Bloomberg, 89 expected a 50-point hike. The other five called a more cautious 25‑point increase.