Mortgage rates have surged, and average credit card rates have surpassed 20% to a record high. The Fed’s aggressive streak of rate hikes, which have made mortgages, auto loans, credit cards and business borrowing costlier, have been intended to slow spending and defeat the worst bout of inflation in four decades. The yield on the two-year Treasury note, which tends to track market expectations for future Fed actions, jumped from 4.62% to 4.77%. Immediately after the Fed's announcement, which followed its latest policy meeting, stocks sank and Treasury yields surged. And the officials expect “core” inflation, which excludes volatile food and energy prices, of 3.9% by year’s end, higher than they expected three months ago. Their updated forecasts show them predicting economic growth of 1% for 2023, an upgrade from their meager 0.4% forecast in March. One reason why the officials may be predicting additional rate hikes is that they foresee a modestly healthier economy and more persistent inflation that might require higher rates to cool. The policymakers also predicted that their benchmark rate will stay higher for longer than they envisioned three months ago. Only two envisioned keeping rates unchanged. Twelve of the 18 policymakers forecast at least two more quarter-point rate increases. The economic projections revealed a more hawkish Fed than many analysts had expected. The central bank’s 18 policymakers envision raising their key rate by an additional half-point this year, to about 5.6%, according to economic forecasts they issued Wednesday. “Holding the target rate steady at this meeting allows the committee to assess additional information and its implications” for the Fed's policies, the central bank said in a statement. But top Fed officials want to take time to more fully assess how their rate hikes have affected inflation and the economy. The Fed’s move to leave its benchmark rate at about 5.1%, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation. But in a surprise move, the Fed signaled that it may raise rates twice more this year, beginning as soon as next month. Generally, a Poodle cut has a puffy head, shaved face and long ears so please be specific about what you DO want your Doodle to look like.WASHINGTON - The Federal Reserve kept its key interest rate unchanged Wednesday after having raised it 10 straight times to combat high inflation. … a Poodle cut? Clients often come in and ask us to NOT make their Doodle look like a poodle but what does that mean? It means something different to most. We try to avoid this as much as possible, but sometimes it is unavoidable. Blades cannot get through the matting, it has to cut under it so it depends how close the matting is to the skin. We try and de-matt as much as we can but if it too severe or the dog will not tolerate it, we do the humane thing and shave down the dog. Matting is close to the skin, so one may not realize that their dog is matted or how severe it is. The most common areas that are matted are the collar and harness area, behind the ears and legs. … matting? When your dog’s fur is knotted. … a breed cut? Some breeds have a specific cut for their breed. If the matting is too severe, we will not be able to do a puppy cut. A de-matting charge may apply, and your dog need to be able to tolerate de-matting. Your dog needs to be brushed out completely and have no matting. … a puppy cut? Same length cut everywhere (from head to tail). … a smooth cut? Trimming your dog’s fur anything shorter than 1/4″.
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