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US's Federal Reserve Raises Key Interest Rate By 0.75%, Biggest Hike In 30 Years

WORLD Team Latestly| Jun 16, 2022 03:08 PM IST
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On June 15, the Federal Reserve raised the benchmark borrowing rate by 0.75%. This is the biggest hike in nearly 30 years. As reported by AFP, Fed's policy-setting Federal Open Market Committee (FOMC) reaffirmed that it remains strongly committed to returning inflation to its 2% objective & expects to continue to raise the key rate. This massive move was the first 75-basis-point increase since November 1994, reported AFP. Watch the video to know more.

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economy Fed Raises Key Interest Rate Federal Reserve Federal Reserve raises interest rate Inflation interest rate hike Interest Rates US US Federal interest rate US Federal Reserve hikes interest rate
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