Fed begins inflation fight with key rate hike, more to come

Summary by Ground News

The Fed raises its benchmark short-term interest rate. The rate hikes will eventually mean higher loan rates for many consumers and businesses. Seven of the central bank's 16 policymakers favor at least one half-point rate hike this year. Many economists say the Fed has made its task riskier by waiting too long to begin raising rates.

4 months ago·Washington, United States

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Times of India

US Fed begins inflation fight with quarter-point hike, more to come

The Fed's quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession. The rate hikes will eventually mean higher loan rates for many consumers and businesses.

4 months ago·Mumbai, India

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BBC News

US central bank raises interest rates for first time since 2018

The Federal Reserve raises rates despite Ukraine uncertainty to try to curb soaring inflation.

4 months ago·United Kingdom

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Reuters

Fed hikes interest rates, signals aggressive fight to curb inflation

The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic risks posed by excessive inflation and the war in Ukraine.

4 months ago·United Kingdom

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News18 India

US Federal Reserve Hikes Interest Rate for First Time in Three Years to Tame Inflation

Fed officials also forecast four additional hikes in 2023, boosting its benchmark rate to 2.8 per cent

4 months ago·India

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CBC News

U.S. central bank hikes key interest rate to 0.5% | CBC News

The U.S. Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signalling potentially up to seven rate hikes this year.

4 months ago·Canada

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CBS Local

Federal Reserve Announces Interest Rate Hike

WASHTINGTON, D.C. (CBS News) — The Federal Reserve announced it is raising interest rates on Wednesday — a move to combat soaring inflation as the U.S. comes out of the pandemic and economic uncertainty in the wake of Russia’s invasion of Ukraine.The quarter-point hike comes as prices have risen at their fastest pace in 40 years. In a statement following the Federal Open Market Committee’s two-day meeting, officials said the as committee “decide…

4 months ago·United States

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