Banknotes: October to December 2022
The Federal Open Market Committee continued its programme of monetary tightening with another 75-basis point hike at its November meeting to 3.75–4% following a similar increase on September 21. Between March and November, the US central bank added 375bp to the fed funds rate. Fed chair Jerome Powell said on September 21 that the central bank “would keep at it” until the Fed achieved its 2% average inflation target. After the November 2 rate decision, the FOMC
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