US interest rates rise again to tackle soaring inflation

The US central bank has raised interest rates by 0.75 percentage points for the second time in a row in an attempt to curb soaring inflation.

The US Federal Reserve said it expects that “ongoing increases” will be needed despite evidence of a slowing economy and concerns that aggressive hikes could lead to a recession.

Mark Gibson

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

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