Fed is going to raise interest rates continuously

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Members of the Federal Open Market Committee said that they're going to continue to raise interest rates continuously.

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They will raise interest rates until they get that rate of inflation down to 2%.

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Federal Open Market Committee (FOMC) revealed on Aug. 17, indicated that officials agreed "there was little evidence to date that inflation pressures were subsiding.

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They evaluated that inflation would respond to monetary policy tightening

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Inflation currently sits at 8.5%, which is a decrease from June's 40-year high of 9.1%.

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The Fed has stated that its goal is to reduce inflation levels down to 2% by 2024.

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And they think it is possible through rapid interest rate hikes

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The Fed has already raised rates by 75 basis points in both June and July.

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