Fed makes further 75bps hike to tame inflation

Rates have reached 2.25%

clock • 2 min read
Fed chair Jerome Powell
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Fed chair Jerome Powell

The Federal Reserve has made its second consecutive 75 basis points rates hike in an attempt to tame runaway US inflation, which topped 9% last month.

As the central bank's two-day policy meeting drew to a close yesterday (Wednesday 28 July), the Federal Open Market Committee announced rates would increase to range between 2.25% and 2.5%. The ...

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