The Fed had already raised interest rates by 0.75 percentage points to between 1.5 and 1.75 percent in June – the sharpest increase since 1994.
(Photo: dpa)
Washington The US Federal Reserve (Fed) will raise interest rates again by three-quarters of a percentage point, as announced on Wednesday. The key interest rate is now in a range of 2.25 to 2.5 percent.
This is the Fed’s fourth rate hike this year. Above all, the central bankers want to curb inflation, which is also rampant in the USA. But the prices have continued to rise so far. Inflation climbed to 9.1 percent in June.
The Fed is very keen to “get inflation back to its 2 percent target,” according to the statement released Wednesday with the rate hike. The central bank also considers further interest rate hikes to be “appropriate”, as Powell also explained in his subsequent press appearance.
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