The Federal Reserve raises interest rates on Wednesday by a quarter point, the eighth rate hike since March of 2022.
In Wednesday's news conference, Chairman Jerome Powell indicated recognition on the cooling of inflation, signaling that rate hikes could be nearing an end. The chairman also stated that "the disinflationary process has started".
However, he also stated that "more evidence" is needed to be confident that inflation is on a sustained downward path.
by Julia Whiteford