The New Paper

June 17, 2021

Fed to raise rates in 2023

The Federal Reserve projected that it will increase interest rates from near-zero to 0.6% by 2023, one year earlier than previously projected. Fed Chair Jerome Powell also noted that he believes recent inflation is transitory, but that it “could turn out to be higher and more persistent than we expect” due to shifting demand amid the ongoing reopening
This story is from the June 17, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.