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The Fed raises rates by 0.25%, the highest since 2007

2023-02-01T19:29:40.691Z


The Fed raises interest rates by 0.25%. The cost of money thus rises between 4.5% and 4.75%, the highest since September 2007 (ANSA)


The Fed raises interest rates by 0.25%.

The cost of money thus rises between 4.5% and 4.75%, the highest since September 2007.

The Fed aims to hit the targets of maximum employment and 2% inflation.

"In support of these targets, the Fed has decided to raise rates bringing them to a range between 4.5% and 4.75%. We anticipate that the current hikes will be appropriate to achieve a sufficiently restrictive" monetary policy "to bring inflation back to 2%, reads the note released at the end of the meeting.

"In determining the extent of future increases, we will take into account economic and financial developments. We are strongly committed to returning inflation to the 2% target", highlights the note, which shows that the Fed unanimously voted for the rise of 0.25%.

Source: ansa

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