Federal Reserve hikes 50 basis points, as expected

• Target rate now 4.25-4.50%
• Prior target rate 3.75-4.00%
• Vote was unanimous
• The prior guidance said: "The Committee anticipates that ongoing increases in the target range will be appropriate" and that was repeated.
• Recent indicators point to modest growth in spending and production, unchanged from prior statement
• Job gains have been robust in recent months, and the unemployment rate has remained low.
• Inflation remains elevated
• Repeats that the Committee is highly attentive to inflation risks
• On the Ukraine war, says "events are contributing to upward pressure on inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term" vs "events are creating additional upward pressure on inflation"

The statement doesn't say much and doesn't change much. The market is focused on the changes in the dot plot showing Fed funds finishing 2023 above 5%.