Business
U.S. Fed lifts rates by 0.25% amid high inflation
Reported by Tanvi Pillai (Section Editor) · Economic Times - Markets ·
✓ — also reported by Google News - UK Business
Representative image · PexelsThe Federal Reserve raised its benchmark interest rate by twenty‑five basis points on Wednesday. The hike targets consumer inflation that remains well above the Fed’s goal. Inflation measured at three‑point‑four percent in August, prompting the move. Fed Chair Kevin Warsh said the decision tests his credibility. Analysts expect another increase in December, which could tighten financial conditions further.
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