Federal Reserve: Expect 3 interest-rate hikes in 2022

The Federal Reserve on Wednesday announced that it is accelerating its removal of monetary support for the economy, citing a rise in inflation that has seen the biggest jump in prices nearly 40 years. In a move to cool growth, policy makers also said they expect to hike interest rates three times in 2022.


"Employers are having difficulties filling job openings, and wages are rising at their fastest pace in many years," Federal Reserve Chair Jerome Powell told reporters on Wednesday. Inflation has been rising as supply chains are disrupted by the coronavirus, he said.

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