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The Fed Raised Interest Rates by 150 bps During the First Half of 2022

Viva Budy Kusnandar 23/06/2022 16:20 WIB

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In June 2022, the Federal Reserve raised its benchmark interest rate by 75 basis points to a range of 1.5-1.75%.

The Fed's Benchmark Interest Rate (January–June 2022)

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The Fed Raised Interest Rates by 150 bps During the First Half of 2022

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The Fed's Benchmark Interest Rate (January–June 2022)

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The United States Federal Reserve (The Fed) raised its benchmark interest rate by 150 basis points (bps) in the first half of 2022.

The Fed began raising its benchmark interest rate by 25 bps to a range of 0.25-0.5% in March 2022 to curb food and energy inflation in the country.

In May 2022, the interest rate was raised again by 50 bps to a range of 0.75-1%, in line with increasing inflationary pressures in the US.

Then, in June 2022, the Fed further raised the benchmark interest rate by 75 bps to a range of 1.5-1.75%. This increase was the most aggressive since 1994.

Bank Indonesia (BI) Governor Perry Warjiyo expects the Fed's interest rate to continue rising until next year.

"Considering the latest developments, we estimate that the Fed's policy interest rate will rise to 3.5% by the end of this year, or higher than the previous estimate of 3.25%," Perry explained during the reading of the BI Board of Governors' meeting results on Thursday (23/6/2022).

Perry also believes that the Fed will raise its policy interest rate again in 2023 by 50 bps, reaching a range of 4% next year.

US inflation reached 8.6% (year on year/yoy) in May 2022, the highest in the last four decades. This figure is far above the 2% inflation target previously set by the Fed.

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 Raised Interest Rates by 150 bps During the First Half of 2022

The Fed Raised Interest Rates by 150 bps During the First Half of 2022

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The Fed Raised Interest Rates by 150 bps During the First Half of 2022

The Fed Raised Interest Rates by 150 bps During the First Half of 2022

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