Fed to raise interest rate again amid core inflation pressure
by Phillip Inman from Economics | The Guardian on (#6BCZR)
Expected hike in benchmark rate to a range of 5% to 5.25% could push US into recession
The US is braced for an interest rate rise on Wednesday that could push the world's largest economy into recession.
The Federal Reserve is expected to announce another quarter of a percentage point rise in its benchmark interest rate, to a range of 5% to 5.25%. It would be the central bank's 10th consecutive rate rise as it prioritises the fight against rising prices. A year ago interest rates were close to zero.
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