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Thursday, September 29, 2022

US Fed delivers another big interest rate hike

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<br>The 0.75 hike was the fourth in 2022.

"We have got to get inflation behind us. I wish there were a painless way to do that," Fed Reserve Chairman Jerome Powell said. "There isn’t".

He added: "We want to act aggressively now, and get this job done, and keep at it until its done."

A further increases are expected later in the year, of three-fourth, which would take the benchmark rate to 4.4 per cent, including a three-fourth hike in November and by a half point in December.

More rate hikes will follow next year.

–Ajit Weekly News<br>yashwant/shs


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