Fed raises interest rates in largest hike since 1990s ...News

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Fed raises interest rates in largest hike since 1990s
source : Russia Today ( News ) () 19
The Federal Reserve chief said the rate increase is meant to combat rampant inflation The US Federal Reserve has announced a 0.75% interest rate hike, the largest increase in 28 years, as the central bank’s chairman stressed the need to avoid a recession and tame runaway price inflation.  The Fed’s Open Market Committee announced the decision on Wednesday, saying it would raise short term rates by 75 basis points in a move aimed at reducing inflation to 2%. Prior projections suggested that figure could reach 3.4% by the end of the year.  “We’re not trying to induce a recession now, let’s be clear about that,” Fed

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