US Federal Reserve increases interest rate by 0.5% to combat inflation – the biggest hike in decades

The US Federal Reserve has increased its benchmark interest rate by 0.5% to combat inflation – the sharpest hike since 2000.

The American central bank increased the rate for the second time in two months after inflation surged to a 40-year high of 8.5% in March.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

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