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US Federal Reserve raises interest rates to highest level since 2008
It was reported that US Federal Reserve raises interest rates to the highest level since 2008. The announcement raises fears that the effort to control the US’s extraordinarily high inflation rate could send the country into recession. Due to the Fed’s action on Wednesday, the benchmark short-term rate, which affects many consumer and commercial loans,…
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Taming Inflation in US Will Be Painful: US Fed
US Fed Chair Jerome Powell said that taming inflation in the US will be painful. He said that it may slow growth and create joblessness. He said that this needs to be done to douse a 40 year high inflation. Borrowing costs will be raised to restrict growth, and would keep them there “for…
