US makes aggressive move to tackle inflation ...News

Russia Today - Economy
US makes aggressive move to tackle inflation
source : Russia Today ( News ) () 18
The Federal Reserve delivered a second consecutive 75 basis-point rate increase The US Federal Reserve delivered another large interest-rate hike on Wednesday in an attempt to tame surging consumer prices. The 75 basis-point increase matched the move made at its previous meeting in June, and is the fourth time the Fed has raised its benchmark rate since March. Inflation in the US rose to 9.1% last month, driven mainly by higher prices for fuel and food. That is the fastest rate since 1981 and is way above the official 2% target. Raising the cost of borrowing is aimed at forcing people and businesses to borrow less

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