# US Federal Reserve raises rates ~500bp in 2022-2023 to fight inflation

Date: 2023

Beginning in March 2022, the US Federal Reserve raised the federal funds target by about 425 basis points over 2022 (to a 4.25-4.50% range) and continued tightening into mid-2023, reaching a peak target range of 5.00-5.25% by June 2023 - the most aggressive hiking cycle in over 30 years - in response to post-COVID inflation.

## Drivers

- Monetary Policy Tightening Stance: https://factrail.ai/drivers/econ-monetary-policy-tightening

## Sources

_Sources are listed on the canonical page._

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/econ-fed-2022-2023-rate-hike-cycle