What to know about US Federal Reserve’s first interest rate hike in 3 years
- For the first time in more than three years, the United States Federal Reserve has raised interest rates amid mounting inflationary pressures and consumer frustration.
- The unanimous decision on Wednesday, supported by all 12 members of the Federal Open Market Committee (FOMC), raised rates by a quarter of a percentage point, underscoring the central bank’s commitment to lowering prices.
- Recommended Stories list of 3 itemslist 1 of 3Oil soars to $109, pushing up chances of US interest rate increaselist 2 of 3Benchmark US government bond yield hits 19-year peak as oil prices surgelist 3 of 3US Fed
Unverified
- For the first time in more than three years, the United States Federal Reserve has raised interest rates amid mounting inflationary pressures and consumer frustration.
- The unanimous decision on Wednesday, supported by all 12 members of the Federal Open Market Committee (FOMC), raised rates by a quarter of a percentage point, underscoring the central bank’s commitment to lowering prices.
- Recommended Stories list of 3 itemslist 1 of 3Oil soars to $109, pushing up chances of US interest rate increaselist 2 of 3Benchmark US government bond yield hits 19-year peak as oil prices surgelist 3 of 3US Fed
Sources: Al Jazeera