Federal Reserve Chairman Jerome Powell announces the central bank’s biggest rate increase since 1994 in an effort to rein in inflation without denting economic growth or destabilizing markets. | AFP-JIJI

U.S. Fed rolls out biggest rate hike since 1994, flags slowing economy


The Federal Reserve on Wednesday decided on its largest interest-rate hike since November 1994, moving ahead with a 0.75 percentage point increase while signaling further aggressive tightening as the United States grapples with its highest inflation in decades.

Upon concluding a two-day meeting of the policy-setting Federal Open Market Committee, the central bank said it will lift its target range for the federal funds rate to 1.50 to 1.75%, following a 0.5-point increase in May and a 0.25-point rise in March.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)



Source link

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *

Popular News

Popular Posts
Featured Posts
Recent Posts
Popular in Bitcoin
Trending Posts