- Advertisement -spot_img
Friday, September 30, 2022

The US Federal Reserve raised interest rates by 0.75 points, their highest level since 2008

United States Federal Reserve (Fed) has announced Official interest rate hike of 0.75 pointsThe figure is between 3% and 3.25%, the highest level since 2008.

This Wednesday’s growth met expectations of economists who, in the face of inflation in the United States, Which was 8.3 percent in the month of AugustIn an effort to control price increases, the Fed expects its monetary policy to continue.

about this 0.75 points increase for the fifth and third consecutive time since March And more growth before the end of the year is not ruled out.

After a two-day meeting, members of the Fed’s Federal Open Market Committee made the decision, which will be justified in a press conference by Reserve Chairman Jerome Powell in the next few minutes.

Powell had already moved on last July, when he announced the previous increase, that there will probably be another “unusually large increase” in September Folks, there is a prediction that he is reaffirming in his latest public speeches.

At various public events in recent weeks, he has emphasized that that the Fed continues with a restrictive monetary policy To reduce prices and prevent citizens from getting used to high inflation. “We must now act clearly, forcefully, as we have been doing, and we must continue to do so until the work is done,” he said in a recent conversation.

Inflation still hasn’t come down

The increase comes a week after the latest inflation figures were released, which showed that, although the CPI’s year-on-year rate fell by two tenths in August to 8.3% monthly. Prices rose by a tenth compared to July.

Some data suggests that, for now, the series of interest rate hikes that the Fed has been implementing since March Still not having desired effect on prices

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here