The half-point hike in the Fed’s key rate — its largest since 2000 — raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.
WASHINGTON — The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
The increase in the Fed's key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago. The Fed also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds. Those holdings more than doubled after the pandemic recession hit as the Fed bought trillions in bonds to try to hold down long-term borrowing rates. Reducing the Fed’s holdings will have the effect of further raising loan costs throughout the economy.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Feds charge North Olmsted mother, Westlake son in Jan. 6 Capitol riotKimberly Wargo, 55, of North Olmsted, and her son, Colton Wargo, 26, of Westlake, are charged in federal court with entering the U.S. Capitol building during the Jan. 6 riot. An initial appearance in U.S. District Court in Cleveland has not yet been set.
Lire la suite »
Feds Facing Flood of Lawsuits From Music Venues Over Rejected COVID ReliefDozens of lawsuits claim that a COVID-19 relief program unfairly excluded certain venues for no good reason – all while funding their direct rivals.
Lire la suite »
'God is looking over you, and so are the feds.' Federal agent convicted of taking bribes from organized crimeFelix Cisneros Jr., a former agent in the Dept. of Homeland Security, was convicted of bribery for his involvement with an Armenian crime figure.
Lire la suite »
Water Is So Low in the Colorado River, Feds Are Holding Some Back So One Dam Can Keep Generating PowerThe decision will keep more water in Lake Powell, the reservoir located at the Glen Canyon Dam in northern Arizona.
Lire la suite »
Fed raises key rate by a half-point in bid to tame inflationThe Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point
Lire la suite »
Fed raises key rate by a half-point in bid to tame inflationThe Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point
Lire la suite »