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Fed issues biggest interest hike in two decades

by ChemOrbis Editorial Team -
  • 05/05/2022 (09:37)
According to an official statement released on May 4, the US Federal Reserve (Fed) decided to increase interest rates by the largest amount since May 2000.

Accordingly, Federal Open Market Committee announced that it has lifted interest rates by 0.50% or 50 basis points, bringing the rate into a range of 0.75%-1%.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain strong,” the Committee stated.

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