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Fed Officials Project Three Interest Rate Rises in 2022 and Accelerate Stimulus Wind-Down
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The Federal Reserve set the stage for a series of interest rate increases beginning next spring, completing a major policy pivot that showed much greater concern about the potential for inflation to stay high.
Most central bank officials, in projections released Wednesday at the conclusion of their two-day meeting, penciled in at least three quarter-percentage-point rate increases next year. In September, around half of those officials thought rate increases wouldn’t be warranted until 2023.
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