Write For Us

US Federal Reserve raises benchmark interest rate 75 basis points, hints at slowdown

Sponsored Post Vitamin D2 Canada Persia
37 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
The U.S. Federal Reserve hiked its benchmark interest rate by three-quarters of a point for a fourth straight time, but hinted that it could soon reduce the size of its rate hikes.

In his remarks on Wednesday, Federal Reserve Chairman Jerome Powell said there is “significant uncertainty” around the level of rates needed to bring down inflation but “we still have some ways to go.”

The Fed’s move raised its key short-term rate to a range of 3.75 per cent to 4.0 per cent, its highest level in 15 years. It was the bank’s sixth rate hike this year – a streak that has made mortgages and other consumer business loans increasingly expensive and heightened the risk of a recession.

In a statement, the Fed suggested it could soon shift to a more deliberate pace of rate increases and said in the coming months, it would consider the cumulative impact of its large rate hikes on the economy.

For more info, please go to https://globalnews.ca/news/9244180/u-s-federal-reserve-interest-rate-nov-2/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #fedratehike
Category
U.S. & Canada
Tags
Fed rate hike, Federal Reserve rate hike, Jerome Powell
Sign in or sign up to post comments.
Be the first to comment