Finance News Latest

US Fed Announces Biggest Interest Rate Hike In Two Decades

Rates to touch 2.9% by 2023. Seven more hikes are expected this year. The Federal Reserve, on Wednesday, announced the sharpest rise in interest rates in over two decades. The move was a bid to combat the soaring inflation in the US. There was a 0.5 percentage point increase in interest rates. It is a follow-up to the .25 percentage hike in March, the first hike in rates since December…