MercoPress. South Atlantic News Agency

Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%. Read full article