This is the fourth rate hike since last March and the Federal Reserve is warning it won’t be the last. In the United States, inflation is at 9%, a figure not seen in 40 years.
Euskaraz irakurri: AEBko Erreserba Federalak 0.75 puntu igo ditu interes-tasak
The US Federal Reserve (Fed) announced this on Wednesday an increase in the official interest rate of 0.75 pointsthe second in the past two months, to try to curb runaway inflation.
With this hike, the fourth 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 2.25 and 2.5%.
In an official statement released after their two-day meeting, the Federal Reserve System’s Board of Governors reiterated that it expects more rate increases to come.
Increases in the official interest rate by 0.75 points they haven’t seen each other since 1994when, under the leadership of the historic Alan Greenspan, the US central bank implemented a series of rate hikes to prevent runaway inflation.
Then the annual rate of increase in consumer prices amounted to 2.7%while it was last june at 9.1%something not seen in 40 years.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
