US Federal Reserve hikes interest rates 75 basis points, biggest jump in 28 years ...Egypt

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US Federal Reserve hikes interest rates 75 basis points, biggest jump in 28 years
source : EGYPT INDEPENDENT ( Egypt ) () 47
The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, CNN reported. The rate hike was the biggest made by the US central bank since 1994, and was delivered after recent data showed little progress in its inflation battle. “Overall economic activity appears to have picked up after edging down in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures,” the council said. “The invasion of Ukraine by Russia is cau

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