The Federal Reserve implemented its fourth rate hike of 2018 today (December 19), pressing ahead with further tightening despite growing turbulence in markets.
The 25 basis point hike brings the target range for the federal funds rate to 2.25–2.5%. All members of the Federal Open Markets Committee voted in favour of the move.
Key macroeconomic indicators for the US continue to look broadly firm. Inflation was 2% in both September and October, a slight decline on earlier months, while