Federal Reserve

The Federal Reserve System is the central banking system of the United States of America. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Fed officials indicated at their last meeting in June 2021 that rate hikes could come as soon as 2023, after saying in March that it saw no increases until at least 2024. The so-called dot plot of individual member expectations pointed to two hikes in 2023.