US Federal Reserve: The US Federal Reserve has once again increased interest rates. The Federal Reserve has hiked interest rates by 0.75 percent this time.
US Federal Reserve: In order to control the ever-increasing inflation, the US central bank ie US Federal Reserve has increased interest rates drastically. The US Federal Reserve has hiked interest rates by 0.75 percent this time. After this it has reached between 3 to 3.25 percent.
This is the third time in a row that the US Federal Reserve has raised interest rates. The US central bank is continuously increasing interest rates to control inflation in the country. Along with this, the bank has indicated that interest rates may increase further.
At today's meeting, Federal Open Market Committee raised its policy interest rate by 3/4 percentage points, bringing target range to 3-3.25%. We're moving our policy stance that will be sufficiently restrictive to return inflation to 2%: Jerome Powell, chair of US Federal Reserve pic.twitter.com/hYhfdLK7lS
— ANI (@ANI) September 21, 2022
Significantly, the interest rate is the highest since the 2008 recession. Recently, inflation in America had gone to the highest level of 40 years. Bank officials say that the interest rate may reach 4.4 percent by the end of this year and 4.6 percent next year.
According to economic experts, a hike in the interest rate by the Federal Reserve will cut jobs and increase unemployment. Due to which the possibility of recession by the end of this year or early next year has increased.
Stock markets around the world are seeing a decline due to the US Federal Reserve raising interest rates. The US stock market Dow Jones fell by more than 220 points, it has come down to 30,500 points. It is likely to have an impact on the whole world including India.