The Fed Raises Interest Rates Again, Reaching a 14-Year High

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Viva Budy Kusnandar 22/09/2022 10:10 WIB

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This is the fifth interest rate hike by the Fed. Cumulatively, the Fed has raised its benchmark interest rate by 300 basis points between March and September 2022.

The Fed's Interest Rate Movement (January 2008-September 2022)

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The Fed's Interest Rate Movement (January 2008-September 2022)

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The United States Federal Reserve (The Fed) again raised its benchmark interest rate by 75 basis points (bps) to a range of 3%-3.25% in September 2022.

"Recent indicators point to moderate growth in spending and production. Job growth has been robust in recent months, and the unemployment rate remains low," The Fed explained in a press release on Wednesday (September 21, 2022).

"Inflation remains elevated, reflecting imbalances between supply and demand as a result of the pandemic, high food and energy prices, and broader price pressures," it continued.

The Fed also stated that the Russia-Ukraine war has created additional upward pressure on inflation and is weighing on global economic activity.

"The Committee seeks to maximize employment and maintain inflation at 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate," The Fed explained.

This interest rate hike by The Fed is the fifth consecutive increase in recent months. In total, The Fed has raised its benchmark interest rate by 300 bps between March and September 2022.

This aggressive policy has brought The Fed's interest rate to its highest level in 14 years, or since January 2008, as shown in the graph.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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The Fed Raises Interest Rates Again, Reaching a 14-Year High

The Fed Raises Interest Rates Again, Reaching a 14-Year High

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The Fed Raises Interest Rates Again, Reaching a 14-Year High

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