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Ben Casselman

@bencasselman

As expected, the Federal Reserve raised interest rates by a quarter percentage point, their smallest increase since March. Press release: federalreserve.gov/newsevents/pre Full coverage:

nytimes.com

Fed Set for Smaller Rate Increase: Live Updates

In their first meeting of the year, Federal Reserve officials are widely expected to raise rates by a quarter point, a smaller move than in recent meetings. But what they say about their next moves...

7:00 PM · Feb 1, 2023

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Statement still anticipates further increases, plural: "The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time."