“It will take time however for the full effects of monetary restraint to be realized, especially on inflation. In addition, the economy is likely to face further head winds because of tight credit conditions. They had been tightening in the last year or so. But the strains that emerge in the banking sector in March, result in tighter conditions.”
Today the Federal Reserve raised interest rates for the tenth time in a row, adding onto the most aggressive series of rate hikes since the 1980’s. The Feds raised rates another 25 basis points, widely speculated this would be the case, bringing the total rate to 5.25%.
Inflation, according to the government, still has no where near returned to the Fed’s supposed 2% target, which is reportedly at 5% now, according to the U.S. Labor Department. But alternative data that factors in other data points reveals that overall inflation is still much higher than the government is willing to report.
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