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Added on the 15/06/2022 21:01:58 - Copyright : AFPTV - First images
The Federal Reserve has raised the key US interest rate again and says more hikes are coming as it battles soaring prices -- an aggressive stance that has raised fears of a recession. It is the third consecutive increase of 0.75 percentage point by the Fed's policy-setting Federal Open Market Committee (FOMC), continuing the forceful action to tamp down inflation that has surged to the highest in 40 years. SOUNDBITE
Federal Reserve Chair Jerome Powell announces a raise of the benchmark interest rate by three-quarters of a percentage point, adding that the Fed expects ongoing rate increases "will be appropriate." It is the second straight 75 basis point increase, and the fourth rate hike this year. SOUNDBITE
The US Federal Reserve voted to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year, the chairman of the central bank Jerome Powell announces during a press conference in Washington, DC. SOUNDBITE
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Fed Chair Jerome Powell says "in determining the extent to which additional policy may be appropriate to return inflation to two percent over time, the committee will take into account" the impact of existing interest rate hikes. SOUNDBITE
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