The Federal Reserve on Monday said it was expecting real-date inflation data from the U.S. Bureau of Labor Statistics for the third quarter, which would be the first real-world measurement of real-dollar inflation since January.
“We expect that the BLS will provide a real-year inflation estimate on April 1st, with our expectation that it will be at or near the 1.8% level,” the Fed said in a statement.
The announcement came as the Federal Reserve raised interest rates, the largest interest rate hike in history.
On Wednesday, the Fed signaled it would begin the process of removing monetary policy from the hands of its policymakers, a move that will leave the Fed’s monetary policy makers without the tools to deal with the rising cost of living and other pressures.
In addition to the increase in interest rates that will begin on April 30, the central bank also increased its forecast for the inflation rate in the fourth quarter, from a forecast of 2.8 percent to 3.4 percent.
Despite the central banks increased rate hike, the economic data is not expected to change the outlook for the U