Federal Reserve Hikes Benchmark Bank Rate by 75bps to Battle Elevated Inflation
On Wednesday afternoon, the U.S. Federal Reserve increased its federal funds rate by three-quarters percent. This follows last week's consumer price index (CPI), which showed that U.S. inflation rose by 8.3% per year. Fed raises Federal Funds Rate by 75bps and anticipates 'Ongoing Increasings' The benchmark bank rate was raised by 75 basis points (bps) […]
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