US Federal Reserve Imposes Sixth Consecutive Rate Rise

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1 year ago
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US Federal Reserve Chair Jerome Powell has announced a sixth consecutive interest rate increase, raising the policy by 75 basis points.

Mr Powell hinted rate hikes could soon reduce in size but ongoing increases are likely as the Reserve strives to meet its 2 per cent inflation goal.

The announcement follows a push from the United Nations encouraging the US to press pause on rate hikes over growing recession fears.

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