The interest rate is raised by half percentage point (0.5%) on 5 May 2022. Increased of 0.25% in Mar. The next increase expected in Jun.
US Fed makes biggest rate increase since 2000 to fight inflation - CNA
To achieve that aim, he said "additional 50-basis point increases should be on the table at the next couple of meetings", however, a more aggressive three-quarter point hike is not under consideration.
The Fed's goal is to engineer a "soft landing", reining in inflation while avoiding a contraction in economic activity, and Powell said that outcome is likely.
https://www.channelnewsasia.com/business/us-federal-reserve-biggest-rate-increase-fight-inflation-2664736
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