US Fed raises key policy rate by 25 bps: First hike since July 2023, more hikes possible

The US Fed’s benchmark rate is now between 3.75-4%. The decisioin to raise rates wwas unanimous. The plain fact is that inflation is too high and it has been so for too long, US Federal Reserve chairperson Chair Kevin Warsh said.

Kolkata: The US Federal Reserve has hiked its policy rate for the first time in more than three years, with its chairman Kevin Warsh signaling more rate increases likely in future to rein in inflation. The decision was unanimous as all 12 members of the rate-setting Federal Open Market Committee voted to support the move, underlining the central bank’s commitment to lowering prices. The US central bank last raised its policy rate in July........

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