The Fed is getting ready to raise interest rates
CNN
The Federal Reserve is getting ready to raise interest rates, the central bank said in its monetary policy update Wednesday. But it kept rates near zero for now.
"With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate," the Fed statement read.
Prices continued to climb into the end of 2021 and economists expect to see the peak of this inflation cycle in the early months of this year.
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