{"id":150711,"date":"2022-01-27T02:19:02","date_gmt":"2022-01-27T02:19:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=150711"},"modified":"2022-01-27T02:19:02","modified_gmt":"2022-01-27T02:19:02","slug":"its-insane-gas-station-owner-reveals-what-inflation-is-doing-to-his-business","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/its-insane-gas-station-owner-reveals-what-inflation-is-doing-to-his-business\/","title":{"rendered":"&#39;It&#39;s insane&#39;: Gas station owner reveals what inflation is doing to his business"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>The Federal Reserve is getting ready to raise interest rates, the central bank said in its monetary policy update Wednesday. But it kept rates near zero for now.<\/p>\n<p>&#8220;With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,&#8221; the Fed statement read.<br \/>\nPrices continued to climb into the end of 2021 and economists expect to see the peak of this inflation cycle in the early months of this year.<\/p>\n<ul><\/ul>\n<p>The Fed&#8217;s preferred measure of inflation rose to 5.7% in the 12 months ended in November, the fastest increase in the consumer spending price index since July 1982.<\/p>\n<ul><\/ul>\n<p>The central bank slashed rates to near zero in March 2020 when the pandemic put the US economy into a choke hold.<\/p>\n<p>Last month, the Fed signaled it would hike interest rates multiple times throughout 2022. Investors expect the first rate hike to take place at the Fed&#8217;s next meeting in March: Market expectations for a rate increase in March climbed above 95% following the Fed announcement, from just below 90% before, according to the CME FedWatch tool.<br \/>\nIn November, the Fed also announced the end of its pandemic-era stimulus and accelerated the roll-back of its asset purchases the following month.<br \/>\nThe bank will continue reducing its monthly asset purchases and end them in early March, it said Wednesday.<\/p>\n<ul><\/ul>\n<p>After the end of the stimulus program and liftoff in interest rates, reducing its massive balance sheet is next up on the Fed&#8217;s to-do list. The bank affirmed that it only expects to start focusing on balance sheet reduction after the rate hikes have begun.<br \/>\n<em>This is a developing story. It will be updated<\/em><br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/01\/26\/economy\/federal-reserve-powell-policy-update\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)The Federal Reserve is<\/p>\n","protected":false},"author":3,"featured_media":150710,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;It&#039;s insane&#039;: Gas station owner reveals what inflation is doing to his business - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/its-insane-gas-station-owner-reveals-what-inflation-is-doing-to-his-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;It&#039;s insane&#039;: Gas station owner reveals what inflation is doing to his business - 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