The U.S. Federal Reserve again raised interest rates, but this time by 75 basis points or 0.75%. This took the Federal Fund rate range from 3% – 3.25% to 3.75% – 4% – the last time such levels were seen was in 2008. Future rate increases are expected to be less in quantum.
This is as per the U.S. Feds plan to bring inflation under control, within the target of 2%. The US housing market has started to feel the pinch as prices have started to lower.
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