US Fed raises interest rates half-point in biggest hike since 2000
The Federal Reserve delivered the biggest interest-rate increase since 2000 and signaled it would keep hiking at that pace over the next couple of meetings, unleashing the most aggressive policy action in decades to combat soaring inflation. The US central bank’s policy-setting Federal Open Market Committee on Wednesday voted unanimously to increase the benchmark rate by a half percentage point. It will begin allowing its holdings of Treasuries and mortgage-backed securities to decline in June at an initial combined monthly pace of $47.5 billion, stepping up over three months to $95 billion. Al Jazeera’s Gabriel Elizondo reports from Washington, DC. – Subscribe to our channel: http://aje.io/AJSubscribe – Follow us on Twitter: https://twitter.com/AJEnglish – Find us on Facebook: https://www.facebook.com/aljazeera – Check our website: https://www.aljazeera.com/ #FederalReserve #JeromePowell #WallStreet
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