U.S. Fed raises rates by 75 basis points to double down on inflation - BNN Bloomberg

WATCH LIVE: U.S. Fed Chair Jerome Powell holds press conference following three-quarter point interest rate hike

Federal Reserve officials raised interest rates by 75 basis points for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation -- but risking a sharp blow to the economy.

Higher rates are already having an impact on the US economy. The effects are particularly evident in the housing market, where sales have slowed. The latest increase puts rates near Fed policy makers’ estimates of neutral -- the level that neither speeds up nor slows down the economy. Forecasts in mid-June showed officials expected to raise rates to about 3.4 per cent this year and 3.8 per cent in 2023.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BNNBloomberg /  🏆 83. in CA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil slips as investors weigh demand outlook ahead of Fed meet - BNN BloombergOil advanced for a second session as signs of a tight physical crude market offset concerns about an economic slowdown.
Read more »

Stocks, U.S. futures mixed ahead of earnings, Fed - BNN BloombergStocks and US futures were mixed on Tuesday amid caution in global markets ahead of the Federal Reserve interest-rate hike.
Read more »

U.S. stock trading hits 2022 low before Fed, earnings - BNN BloombergU.S. stocks wavered in a choppy session as traders braced for earnings from technology bellwethers amid the threats of a hawkish Federal Reserve, scorching inflation and a looming economic recession.
Read more »

U.S. futures rise on earnings amid countdown to Fed - BNN BloombergStocks and US equity futures rallied Wednesday as a batch of resilient company earnings helped alleviate some of the wider caution in markets ahead of a pivotal Federal Reserve monetary-policy meeting.
Read more »

The Daily Chase: CN Rail flexes pricing power; Awaiting U.S. Fed rate decision - BNN Bloomberg🚂CN Rail reports record high revenue ‼️ Loblaw posts Q2 profit increase ⌛️Awaiting U.S. Fed rate decision Here's what you need to know today:
Read more »

Traders who bet on friendlier Fed are about to see if they're right - BNN BloombergThe biggest stock-bond rally in more than two decades has just raised the ante for investors betting Jerome Powell will send somewhat dovish signals at Wednesday’s high-stakes policy decision.
Read more »