Interest Rate Hike Could Come in 2022, Fed Dot Plot Shows

01 mins 36 secs

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The Fed didn't touch interest rates or its bond purchases at the September meeting, but Powell hinted that a tapering announcement could be coming in November. "So long as the recovery remains on track a gradual tapering process that concludes around the middle of next year is likely to be appropriate," said Powell. He reiterated that tapering does not mean rates are going anywhere right away, but the Fed's latest dot plot did show that half of policymakers now expect a hike in 2022.

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