Fed announces highest interest rate hike since 2000 ...News

The US central bank cites inflation to raise the base interest rate by 0.5% and sell off its balance sheet Citing high inflation, the US Federal Reserve has raised its base interest rate by 50 basis points, or 0.5%, and announced it would be selling off some assets from its $9 trillion balance sheet. The rate hike is the highest since May 2000, when the dot-com stock bubble burst. “Inflation is much too high,” Fed chair Jerome Powell said on Wednesday afternoon, adding that “we have both the tools we need and the resolve it will take to bring it down.” However, Powell noted, the Fed’s policies can only impact the

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