The Federal Reserve has implemented a hike in US interest rates, moving the benchmark range from 3.5%-3.75% to 3.75%-4%. This decision marks the first rate increase in three years and is driven by the central bank’s objective to curb rising inflation.
In an accompanying explanation, BBC’s Samira Hussain outlines the rationale behind the move and analyzes the implications for the broader economy.
Does anyone actually think this will cool things down without triggering a recession? Seems like a risky bet.
Wait, three years? How did we get here? I need a refresher on what happened in the middle of this stretch.
Finally, the Fed is taking inflation seriously. My mortgage payments are going to hurt, but someone has to do this.