As expected, the US Federal Reserve has not changed its interest rates. It leaves its key interest rate between 5.25 and 5.5 percent. It is the highest value in more than twenty years.
The Fed recently raised its key interest rate 11 times in 16 months to combat high inflation – most recently by 0.25 percentage point in July.
The cycle is considered one of the fastest and sharpest tightening periods in Fed history. Only in June did the Fed take a break after ten rate hikes in a row.
The US Federal Reserve (Fed) expects higher economic growth this year than expected three months ago.
The gross domestic product (GDP) of the world’s largest economy is expected to grow by 2.1 percent, as the Fed announced in Washington on Wednesday. That would be 1.1 percentage points more than predicted in June. The Fed predicts growth of 1.5 percent for the coming year.
Source: Krone
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