Fed prepares to raise the interest rate - a meeting held

10:46 - 6.01.2022

January 6, Fineko/abc.az. The U.S. Federal Reserve System, acting as the central bank, is ready to raise the base interest rate at an earlier date than expected due to the economic situation in the country.

ABC.AZ informs with reference to the report on the meeting of the Fed's steering committee on the open market.

It was noted that the strengthening of the economy and the high level of US inflation may lead to an earlier than expected rate hike at a high pace.

"The participants of the meeting generally noted that, given their individual forecasts regarding the economy, labor market and inflation, raising the rate at an earlier date and at a faster pace than previously expected, may be justified," the report says.