Interest Rates

To say the least, there’s been plenty of political, financial, and economic activity this year — from rising interest rates to elevated inflation, to ongoing market turmoil.

At its March 15–16 Federal Open Market Committee (FOMC) meeting, the U.S. Federal Reserve raised its federal target funds rate by a quarter point. It was the first increase since December 2018, but it wasn’t a huge surprise. Fed Chair Jerome Powell had already said we should expect as much, with the potential for additional hikes before year-end.