Published 2 years ago

US interest rates see third 0.75 percentage point rise to tackle inflation

Summary by Ground News

The Fed raised its key interest rate by a substantial three-quarters of a point for a third straight time. The move boosted its benchmark short-term rate to a range of 3% to 3.25%. By raising borrowing rates, the Fed makes it costlier to take out a mortgage or an auto or business loan.

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Times of India

Federal Reserve hikes interest rates by 75 basis points to tackle economic inflation in US. Will it help?

The Federal Reserve has announced that interest rates will be raised by 75 basis points. Since inflation rose along with the demand for more employment opportunities in August, this plan has taken its course. It will hurt many homes and businesses.

2 years ago·India

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The Guardian

Fed raises interest rate by 0.75 percentage points as US seeks to rein in inflation

Third outsized rate increase in a row as central bank struggles to fight runaway inflation, increasing the cost of everything

2 years ago·London, United Kingdom

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Reuters

Fed delivers another big rate hike; Powell vows to 'keep at it'

Federal Reserve Chair Jerome Powell vowed that he and his fellow policymakers would keep at their battle to beat down inflation, as the central bank hiked interest rates by three-quarters of a percentage point for a third straight time and signaled that borrowing costs would keep rising this year.

2 years ago·United Kingdom

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Associated Press News

Fed attacks inflation with another big hike and expects more

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession.

2 years ago·United States

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