Fed to speed up taper, projects three rate hikes in 2022
| The Federal Reserve announced Wednesday a faster timeline for pulling back the stimulus it has deployed to support the economy through the coronavirus pandemic as inflation surges.
The Federal Open Market Committee (FOMC), the Fed’s monetary policy arm, said it would taper its monthly purchases of Treasury bonds and mortgage-backed securities at a quicker rate than it laid out in November. Fed officials also projected three interest rate hikes in 2022, accelerating their expected timeline for raising borrowing costs. |
