Highlights

  • Fed raises rates by the highest quantum since 1994
  • Raises inflation outlook, cuts growth estimates
  • Markets worry about stagflation ahead

Latest news

Aishwarya Rai Bachchan’s ‘Ponniyin Selvan –1' is set to release on Sep 30

Aishwarya Rai Bachchan’s ‘Ponniyin Selvan –1' is set to release on Sep 30

‘Koffee With Karan’ season 7 trailer out: A sneak peek into the guest list and fun conversations

‘Koffee With Karan’ season 7 trailer out: A sneak peek into the guest list and fun conversations

Jenny Han reveals what connection Taylor Swift has with Amazon Prime Video’s 'The Summer I Turned Pretty'

Jenny Han reveals what connection Taylor Swift has with Amazon Prime Video’s 'The Summer I Turned Pretty'

Amravati murder: mastermind was good friend of murdered chemist

Amravati murder: mastermind was good friend of murdered chemist

I got the job by mistake: Ravi Shastri backs Rahul Dravid as his perfect replacement

I got the job by mistake: Ravi Shastri backs Rahul Dravid as his perfect replacement

Federal Reserve hikes rates by 75 bps, cuts growth outlook

Fed implies another 175 basis points of tightening this year.

Federal Reserve in its war against 40-year high inflation raised rates by the highest quantum in 28 years. US central bank raised rates by 75 bps while cutting the growth outlook, signalling firmly that there is stagflation ahead

Signalling tougher times ahead the FOMC cut growth outlook. They forecast gross domestic product growth to slow to 1.7% this year compared with a 2.8% expansion projection in March. They also see unemployment rising to 4.1% at the end of 2024 from 3.6%.

According to the “dot plot” of individual members’ expectations, the Fed’s benchmark rate will end the year at 3.4%, an upward revision of 1.5 percentage points from the March estimate.

Up Next

Federal Reserve hikes rates by 75 bps, cuts growth outlook

Federal Reserve hikes rates by 75 bps, cuts growth outlook

Musk makes a comeback! This time with the Pope

Musk makes a comeback! This time with the Pope

Over 8000 flights delayed or cancelled, American airports in complete chaos

Over 8000 flights delayed or cancelled, American airports in complete chaos

On camera: Spicejet flight cabin fills with smoke, flight to return to Delhi

On camera: Spicejet flight cabin fills with smoke, flight to return to Delhi

Auto, Taxi fares hiked in Delhi

Auto, Taxi fares hiked in Delhi

BMW cars will adopt Android Automotive from 2023

BMW cars will adopt Android Automotive from 2023

More videos

DHFL fraud: Yes Bank to PM Housing Scheme, Rs 34,000 cr scam explained

DHFL fraud: Yes Bank to PM Housing Scheme, Rs 34,000 cr scam explained

NYC rents hiked by most in 10 years: Only 1 out of 5 full-time workers can afford it

NYC rents hiked by most in 10 years: Only 1 out of 5 full-time workers can afford it

Explained: Germany one step away from rationing gas, Russia cuts supply

Explained: Germany one step away from rationing gas, Russia cuts supply

Media Mogul Rupert Murdoch heads for 4th divorce at 91

Media Mogul Rupert Murdoch heads for 4th divorce at 91

Home buyers' dilemma as housing projects get stuck! What to do

Home buyers' dilemma as housing projects get stuck! What to do

This is what an average CEO salary in India is...

This is what an average CEO salary in India is...

Binance Expose; Is the world's largest crypto exchange a safe-house for laundering?

Binance Expose; Is the world's largest crypto exchange a safe-house for laundering?

Top 5 'fat-finger' trades that rocked global markets

Top 5 'fat-finger' trades that rocked global markets

Explained: What is a fat finger trade and how it can make you lose crores!

Explained: What is a fat finger trade and how it can make you lose crores!

Mass layoffs at American companies: Here is who is firing

Mass layoffs at American companies: Here is who is firing

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.