The Federal Reserve made its highly anticipated monetary policy announcement Wednesday afternoon, and while the statement was largely unchanged from the previous meeting, the central bank's latest projections now point to an increase in interest rates in 2023.
The latest projections from Fed officials suggest interest rates will be increased to 0.6 percent in 2023 compared to previous projections indicating rates would remain at near-zero levels. Seven officials expect a rate hike as soon as 2022.
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