As widely expected, the Federal Reserve’s FOMC chose to raise interest rates by 25bps to the 5.00-5.25% range. This marks the central bank’s 10th consecutive interest rate increase off the 0% level, dating back to March 2022. Fed monetary policy statement In its accompanying monetary policy statement, the Fed made some key updates, notably toning down its reference to anticipating “additional policy firming” (read interest rate increases) and removing its reference to “future increases in the target range” for interest rates: {quote} As the Wall Street Journal’s “Fed Whisperer” Nick Timiraos noted, “The statement ... (full story)