The US Federal Reserve raises interest rates for the fourth time in a row

The US Federal Reserve announced that it had raised its key interest rate by 75 basis points for the fourth time in a row, from 3.75% to 4%.

According to the bank, “The FOMC aims to maximize employment and inflation at 2% over the long term. In support of these goals, the FOMC has decided to raise its target range for the federal funds rate from 3.75% to 45%.

The Fed has made it clear that it is advisable to increase the target range for the base rate.

Source: TASS