The US Federal Reserve has raised interest rates by 25 basis points to
check inflation. The Fed is aiming to bring inflation under 2 per cent
and for that it has resorted to the fastest rate hikes in history, with
ten increases since March 2023.
AIB NEWS
Despite the repeated rate hikes, inflation has not come down sharply. In
March, inflation slowed to 5 per cent - which was still well above the
Fed's target.
Fed, in the last meeting on March 22, hiked interest rates by 25 basis
points and said that its rate-setting panel sought "to achieve maximum
employment and inflation at the rate of 2 per cent over the longer run".
SOURCE ; AIR NEWS
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