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Jerome Powell and the FOMC just raised rates by 50 Basis Points

Here's everything you need to know!

Jerome Powell and the FOMC just raised rates ... Here's what you need to know:

HEADLINE NUMBERS:

Jerome Powell and the Fed just raised rates by 50 basis points (0.50%) to between 4.25%-4.5%

Jerome Powell's Press Conference:

Here's some headlines from Powell's press conference

  • Our policy is getting close to sufficiently restrictive but not there yet

  • We anticipate that ongoing hikes will be necessary to become sufficiently restrictive

  • It was important to move quickly on rates earlier this year, but it’s not so important now how fast we go ‘ultimate level of rates is more important

  • Risks to inflation weighted to upside, the largest pain would come from failure to raise rates high enough

  • I wouldn't see us considering rate cuts until FOMC is confident inflation is moving down in a sustained way

  • Inflation data received in Oct and Nov show 'welcome reduction' in price increases

  • US economy has slowed significantly from last year

  • See little progress in average hourly earnings coming down

Here's the link to watch Jerome Powell's full press conference

Economic Projections:

Here's how this compares to the Fed's previous projections from September

About Bullish Rippers

I start posting at 6AM on Monday and don't stop until 8PM on Friday. My free recap of the week goes out every Saturday ... I spend all day every day looking at the news, so you don't have to.

You can always see the moves I make and what individual stocks I own on my Savvy Trader Portfolio.

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