14-15 June FOMC meeting: Fed becoming worried about inflation expectations

Federal Open Market Committee (FOMC) meeting and statement: On 15 June, the Fed hiked the Fed funds rate by 75bp, to 1.50-1.75%, the first 75bp rate rise since November 1994. Chair Jerome Powell confirmed that recent readings regarding consumer inflation and inflation expectations caused committee members to realise a 75bp hike was necessary. The statement was hawkish.