US Federal Reserve makes first 0.5% interest rate hike since 2000

First back-to-back hike since 2006

Elliot Gulliver-Needham
clock • 4 min read
Federal Reserve chair Jerome Powell
Image:

Federal Reserve chair Jerome Powell

The US Federal Reserve raised interest rates by 0.5% for the first time since 2000, while sending a strong signal that hikes of the same size would come in future meetings.

Yesterday evening, the Federal Open Market Committee implemented its first back-to-back hike since 2006 as it expressed a more aggressive approach to tackling inflation, which hit 8.5% in the US in March,...

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