The Fed Raises Rates Another 25bp in What Could Be Its Last Hike of the Cycle

The Committee decided to raise the target range for the federal funds rate by 0.25 %. It is now in a range of 5.00% to 5.25%.

Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation.

Today's rate hike likely marks the end of the current monetary tightening cycle. Look for the Fed to pause for the rest of the year.