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On February 1, the Federal Reserve announced it would raise interest rates by a quarter percentage point.
This increase marks the eighth increase in less than a year; however, Wednesday’s rate-hike announcement is the smallest since March 2022.
The smaller increase could indicate that the Fed is moving toward a more cautious approach, especially as the aforementioned rate hikes seem to be having the desired effect to lower inflation.
Still, during the news conference Fed Chair Jerome Powell indicated that rates could rise again next month.
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