[ad_1] Following a short pause, the Federal Reserve simply applied its eleventh fee hike since early final 12 months. At right this moment’s Federal Open Market Committee assembly, the federal funds benchmark fee went up by 25 foundation factors, bringing the brand new vary to five.25% to five.50%, the best degree in over twenty years. Although inflation is exhibiting indicators of cooling, with the year-over-year fee dropping from 4% in Could to three% in June, it is nonetheless above the Fed’s 2% goal objective, which suggests costs have not fallen sufficient. Final month, Fed Chair Jerome Powell made it clear…
