These are the results of the Fed’s FOMC, how much will interest rates rise?

Jakarta, CNBC Indonesia – The Central Bank of the United States (US) or The Fed gave the latest signal regarding the increase in interest rates. This is done considering the country’s inflation is still growing.

In a treatise quoted CNBC International, the Fed reportedly sees the need to raise its benchmark interest rate by 50 points. The central bank said similar hikes would likely be needed at the next few meetings.

“Most participants judged that a 50 basis point increase in the target range would likely be appropriate at the next several meetings,” the minutes said.

In the early session of last month, the Federal Open Market Committee (FOMC) approved a half percentage point increase. The FOMC is also drawing up plans, starting in June, to reduce the central bank’s US$9 trillion balance sheet.

It was the biggest interest rate hike in 22 years and comes as the Fed tries to bring inflation down to a 40-year high.

Meanwhile, current market prices see the Fed moving to a policy rate of around 2.5%-2.75% by year-end. However, statements in the minutes indicate that the committee is ready to go further than that.

“All participants reaffirmed their strong commitment and determination to take the necessary steps to restore price stability,” the meeting summary said.

“To this end, participants agreed that the Committee should immediately move its monetary policy stance toward a neutral posture, through increasing the target range for the federal funds rate and reducing the size of the Federal Reserve’s balance sheet,” it continued.

[Gambas:Video CNBC]