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US Fed hikes interest rates 0.25 percent amid market turmoil

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The US Federal Reserve raised the interest rate by 0.25% on Wednesday as it battles stubborn inflation and a banking crisis, which has pushed the central bank into taking its largest emergency actions since the onset of the pandemic.
The rate hike brings the Fed's policy rate, the federal funds rate, to a new range of 4.75%-5%, the highest since October 2007.

Robert Scott is a Financial Analyst and a former Senior International Economist at the Economic Policy Institute.
He joins us live from Rockville, Maryland to discuss the latest updates.

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Category
World
Tags
2023 financial crisis, Al Jazeera, Al Jazeera English
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