Inflation: The US Federal Reserve raises interest rates by fifty basis points

  • Natalie Sherman
  • New York – BBC

Federal Reserve Chairman Jerome Powell

image copyright Reuters

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Federal Reserve Chairman Jerome Powell

The US central bank raised interest rates again, and warned that more hikes would be necessary to curb the pace of rapid price increases.

And the Federal Reserve’s forecasts showed that the bank’s main interest rate may exceed 5 percent annually from now.

But lawmakers have begun to move more cautiously, after signs that the country’s biggest inflation in decades is beginning to abate.

They agreed to raise the bank’s key interest rate by half a percentage point.

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