US central bank raises key interest rate sharply by 0.5 percent to combat inflation
The main US interest rate has been at historically low levels of 0 to 0.25 percent since March 2020. In mid-March, the rate was increased to 0.25 to 0.50 percent. Today, the Federal Reserve announced another sharp hike from half a percentage point to 0.75 to 1 percent. “It is a remarkably large increase in … Read more