The US Federal Reserve raises interest rates by 0.75 points, the largest increase since 1994

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In the United States, the interest rate will therefore be between 1.5% and 1.75%. In addition, the Federal Reserve has announced another rate hike at the end of July.

Euskaraz irakurri: AEBko Erreserba Federalak 0.75 igo ditu interes-tasak, 1994tik igoerarik handiena

The US Federal Reserve (Fed) has decided: raise interest rates by 0.75 pointsto fight runaway inflation.

With this hike — the third since the Fed began raising rates in March — the official interest rate of the world’s largest economy has moved to a range of between 1.5% and 1.75%

In addition, the chairman of the Federal Reserve, Jerome Powellhas announced that this body may approve another rate hike of 0.5 or 0.75 points at the meeting on 26 and 27 July.

This is the biggest rate increase since 1994a time when Democrat Bill Clinton was in charge of the White House and the Fed was led by the historic Alan Greenspan.

Last Friday it was announced that inflation of the United States rose to its highest rate in 40 years in May, at 8.6%a new rise in consumer prices, mainly driven by the sharp rise in energy prices.

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Source: EITB

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