United States Of America

US Federal Reserve raised its benchmark interest rate by 75 basis points

by Anadolu Agency

The US Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, marking its biggest rate hike in 28 years.

The Federal Open Market Committee (FOMC) said in a statement that it decided to raise the target range for the federal funds rate to 1.5%-1.75% range.

The largest interest rate increase since 1994 was approved by all FOMC members, except for Kansas City Fed President Esther George who voted for a 50 basis point of rate hike.

Read the full story on Anadolu Agency

Source
Anadolu Agency
Show More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button