Published 1 year ago

Fed hikes rates by 75 basis points for first time since 1994

Summary by UnionLeader.com

The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising unemployment in the months to come.

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Times of India

Fed hikes rates by 75 basis points, the biggest increase since 1994

The Federal Open Market Committee “anticipates that ongoing increases in the target range will be appropriate,” it said in a statement Wednesday after a two-day meeting in Washington. “The committee is strongly committed to returning inflation to its 2% objective.”

1 year ago·India

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BBC News

US makes biggest interest rate rise in almost 30 years

The US central bank raises rates by 0.75 percentage points as it scrambles to contain soaring prices.

1 year ago·United Kingdom

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News18 India

US Fed Announces Biggest Interest Rate Hike Since 1994

The Fed's policy-setting Federal Open Market Committee reaffirmed that it remains "strongly committed to returning inflation to its 2 percent objective" and expects to continue to raise the key rate

1 year ago·India

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The Guardian

Federal Reserve announces biggest interest rate hike since 1994

Fed confirms 0.75 percentage-point increase as Americans across country hit hard by rising prices and shortages of key items

1 year ago·London, United Kingdom

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The Hindu

U.S. Federal Reserve attacks inflation with its largest rate hike since 1994

The move announced by the U.S. Federal Reserve will raise its benchmark short-term rate to a range of 1.5% to 1.75%

1 year ago·India

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Reuters

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

The Federal Reserve approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands.

1 year ago·United Kingdom

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