{"id":1004673688,"date":"2023-07-26T11:55:46","date_gmt":"2023-07-26T19:55:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004673688"},"modified":"2023-08-01T07:34:49","modified_gmt":"2023-08-01T15:34:49","slug":"rate-hikes-are-back-after-brief-pause","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/","title":{"rendered":"Rate Hikes Are Back After Brief Pause"},"content":{"rendered":"
\"\"<\/a>

Fed Chair Jerome Powell answering questions at the July 26 press briefing. Screenshot by Gabriel Frank for CPE<\/em><\/p><\/div>\n

At the Federal Reserve Open Markets Committee<\/strong>\u2019s meeting on Wednesday, the central bank announced its 11th<\/sup> rate hike since March 2022. The step raises the federal funds rate 25 basis points, to a range of between 5.25 percent and 5.5 percent.<\/p>\n

The widely expected move follows last month\u2019s pause on increases, during which the Federal Reserve took stock of the impact of its 10 consecutive increases. \u201c<\/strong>It will take time for the full effects of our ongoing monetary restraint to be realized,\u201d Fed chair Jerome Powell told reporters following the announcement.<\/p>\n

Also of note, Powell said that the central bank is no longer forecasting a recession. The decision to raise rates is accompanied by favorable data<\/a> for inflation, employment and wage growth, all of which point to a resilient economy. \u201c<\/strong>The intermeeting data came in broadly in line with expectations,\u201d he said.<\/p>\n

\n

READ ALSO: <\/strong>US Market Stacks Up Well Against the World<\/span><\/a><\/p>\n

\n

At the same time, these considerations were weighed with concerns surrounding the Fed\u2019s goal of reducing core inflation to 2 percent. \u201c<\/strong>We are seeing pieces of the puzzle coming together, but policy has not been restrictive enough for long enough to see the desired effects,\u201d Powell added.<\/p>\n

As such, Powell did not commit to either a pause or an increase at the FOMC\u2019s September meeting, amid predictions<\/a> of at least one more hike this year. He pointed to two additional job reports, along with two additional sets of CPI data before the next meeting as influencing the Fed’s next decision.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fed chair Jerome Powell pointed to encouraging economic data but did not rule out more increases this year. <\/p>\n","protected":false},"author":3012,"featured_media":1004673689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,23891,21742],"tags":[32764],"class_list":["post-1004673688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-national","category-latest","tag-federal-open-market-committee"],"acf":[],"yoast_head":"\nRate Hikes Are Back After Brief Pause - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"At the latest meeting, the Federal Reserve Open Markets Committee decided to raise the funds rate by another 25 basis points.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rate Hikes Are Back After Brief Pause\" \/>\n<meta property=\"og:description\" content=\"At the latest meeting, the Federal Reserve Open Markets Committee decided to raise the funds rate by another 25 basis points.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-26T19:55:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-01T15:34:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/2023-07-26_14-41-40-e1690399216497.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1738\" \/>\n\t<meta property=\"og:image:height\" content=\"1033\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/\",\"name\":\"Rate Hikes Are Back After Brief Pause - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/2023-07-26_14-41-40-e1690399216497.jpg\",\"datePublished\":\"2023-07-26T19:55:46+00:00\",\"dateModified\":\"2023-08-01T15:34:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\"},\"description\":\"At the latest meeting, the Federal Reserve Open Markets Committee decided to raise the funds rate by another 25 basis points.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rate-hikes-are-back-after-brief-pause\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/2023-07-26_14-41-40-e1690399216497.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/2023-07-26_14-41-40-e1690399216497.jpg\",\"width\":1738,\"height\":1033,\"caption\":\"Chairman Jerome Powell answering questions at the July 26 press briefing. 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