US interest rates increase by 0.75% – the sharpest rise in nearly 30 years

The US central bank has increased interest rates by 0.75% to combat inflation – the sharpest hike in 28 years.

The Federal Reserve signalled more rate rises to come and projected a slowing economy in the months ahead, along with rising unemployment.

Mark Gibson

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

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