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Fed raises rates again by 75 bps
''Very premature to consider pausing rate hikes''

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Another rate hike is here; Fed hikes interest rates 75 basis points

Name: Another rate hike is here; Fed hikes interest rates 75 basis points
Uploaded: 2022-11-03T08:42:02.000+05:30
Duration: T01M14S
Channel: Editorji News Desk
Description: The latest three-quarter percentage point increase takes the benchmark lending rate to 3.75-4.0 percent, the highest since January 2008

The latest three-quarter percentage point increase takes the benchmark lending rate to 3.75-4.0 percent, the highest since January 2008

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Another rate hike is here; Fed hikes interest rates 75 basis points

In yet another decision, the US Federal Reserve delivered their fourth straight 75 basis-point interest rate with its move to cool red-hot inflation.

The unanimous decision lifts the target for the benchmark federal funds rate to a range of 3.75% to 4%, its highest level since 2008.

The policy-setting Federal Open Market Committee (FOMC) said more increases will be needed to tamp down rising prices but it will consider the impact on the economy when deciding on the pace of future moves -- opening the door to the possibility it will implement smaller steps in coming months.

Powell further said that the committee could begin discussing the possibility of slowing the aggressive pace of rate increases at the December meeting.