The Federal Reserve's plans to adjust the federal funds rate have garnered attention recently, with New York Fed President John Williams stating that a move to 5.25% by the end of 2023 seems reasonable. The federal funds rate, also known as the benchmark interest rate, is a tool used by the Federal Reserve to manage the economy by influencing borrowing costs and economic activity. The potential rate hike is driven by strong economic growth and rising inflation. A higher federal funds rate ca...
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