16-06-2022
The Federal Reserve raised the interest rate by 75 basis points, the biggest increase since 1994, and the Fed's expectations point to further hikes at a strong pace to counter inflation.
The Federal Reserve's Open Market Committee said it raised the interest rate to a range between 1.5% and 1.75%, in a decision in line with expectations.
The Fed added that the rate cut will not start until 2024.