US Fed hikes interest rate amid high inflation

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and projected its policy rate would hit a range between 1.75% and 2% by year's end in a newly aggressive stance against inflation that will push borrowing costs to restrictive levels in 2023.

from Times of India https://timesofindia.indiatimes.com/business/international-business/us-federal-reserve-hikes-rates-signals-aggressive-turn-against-inflation/articleshow/90277336.cms>ab