U.S. Fed signals 3 rate hikes in 2022, to quicken tapering amid inflation

The U.S. Federal Reserve on Wednesday hinted at the possibility of three interest rate hikes next year while deciding to roll back its support for the coronavirus pandemic-hit economy faster than earlier planned amid concerns over rising inflation.After a two-day meeting of the policy-setting Federal Open Market Committee, the bank said it will reduce from January its monthly purchases of Treasuries and mortgage securities by $30 billion, up from the $15 billion announced in November, citing inflation developments and the improvement in the labor market.The Fed, meanwhile, maintained its ta…READ FULL ARTICLE