Fed hints at rate hikes in 2023 amid recovery from COVID-led downturn

The U.S. Federal Reserve on Wednesday indicated it will start raising interest rates in 2023, earlier than previously expected, amid anticipation of price hikes and expansion of job opportunities on the back of a strong recovery from the coronavirus pandemic-triggered downturn.After a two-day meeting of the policy-setting Federal Open Market Committee, the central bank decided to leave its easy monetary policy unchanged to support the recovery, maintaining its target range for the federal funds rate at 0 to 0.25 percent and continuing to buy $120 billion in Treasury bonds and other assets e…READ FULL ARTICLE