← back to claim The Federal Reserve's interest rate hikes reduced inflation from 9.1% in June 2022 to 3.4% by December 2023.

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depth 1 2 3 both pro con
The Federal Reserve's interest rate hikes reduced inflation from 9.1% in June 2022 to 3.4% by December 2023.
[+0] validity 0.0 centrality 15.0 consensus 0 depth 1.9
central-banking inflation interest-rates macroeconomics monetary-policy virtues
supports (4)
[+0] The unemployment rate remained below 4.0% from January 2022 through December 2023 despite rate hikes. [i]
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[+0] M2 money supply growth slowed from 12.9% in February 2022 to -3.7% by October 2023. [i]
[+0] Core inflation excluding food and energy declined from 6.5% in March 2022 to 3.9% by December 2023. [i]
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[+0] The Federal Reserve raised the federal funds rate 11 times between March 2022 and July 2023. [i]
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opposes (3)
[+0] Inflation expectations measured by 5-year breakeven rates peaked at 3.6% in April 2022, before the Fed's steepest hikes. [i]
[+0] Supply chain disruptions eased 58% between January 2022 and December 2023 according to the New York Fed's index. [i]
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[+0] Global oil prices fell from $122 per barrel in June 2022 to $72 per barrel by December 2023. [i]
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