The US Federal Reserve raises interest rates by 75 basis points

The US Federal Reserve raised interest rates by 75 basis points at its meeting held today.

The US Federal Reserve decided, at the end of its meeting today, to increase the interest rate to a range between 3% and 3.25%, as of tomorrow, corresponding to September 22.

This is the fifth consecutive time that the US Federal Reserve has raised interest rates during the current year 2022, and the third time in a row that it has raised it by 75 basis points.

The US Federal Reserve raised the interest rate by 75 basis points last July, and the same in June, the largest increase since 1994, in addition to a 50 basis point increase in May, which is the largest increase in 22 years, in addition to an increase of 25 points. Basis in March of the same year.

The US Federal Reserve's decision comes in line with the expectations of economists and analysts at international banks, as they suggested to the Emirates News Agency "WAM" yesterday, to raise US interest rates by 75 basis points, or 0.75%, in light of efforts to control high inflation rates.

Consumer prices in the United States recorded a sudden rise last August, as the decline in gasoline prices was offset by a rise in rent and food costs, after the Labor Department recently announced that inflation rose by 0.1% after remaining unchanged in the previous July, while annual inflation increased by 8.3%. .

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