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The Federal Reserve on Nov. 2 increased the federal funds rate by 75 basis points, the fourth consecutive month it has done so

Fed Enacts Fourth Consecutive 75-bp Rate Hike, Signals Slower Pace on Future Hikes

The Federal Reserve on Wednesday enacted a fourth consecutive increase of 75 basis points in the federal funds rate, bringing it to a target range of 3.75% to 4%. The widely expected move brings the rate to its highest level since January 2008.

In a statement accompanying the decision, the Fed’s Federal Open Market Committee said it anticipates that “ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time.”

In determining the pace of future increases in the target range, the FOMC will consider “the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” The committee will also continue reducing its holdings of Treasury securities and agency debt and agency MBS.

The Fed signaled that it plans to begin gradually tapering the increases until it reaches a target range of 5% next spring. CNBC reported that stocks rose after Wednesday’s announcement.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Economy
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