The move is intended to curb inflation though previous increases this year have had little effect so far
With the US economy teetering on the edge of a recession and inflation running at a four-decade high, the Federal Reserve announced another three-quarter of a percentage point increase in its benchmark interest rates on Wednesday, the second such increase in just over a month.
In a statement, the Fed said it was “highly attentive to inflation risks”.
Continue reading...from US news | The Guardian https://ift.tt/EunM2ao
