The US Federal Reserve approved, on Wednesday, a 75-point interest rate hike, in line with market expectations, at the highest pace in 25 years.
The Fed stated that raise interest rates to a range between 1.50% and 1.75%.
The Fed had cut interest rates to zero with the outbreak of the Corona epidemic, and approved huge stimulus packages, and this super-facilitation of the markets resulted in the highest inflation rates in 40 years, according to the consumer price index reading, which came at 8.6%.
The Fed said it was “strongly committed” to bringing inflation back to its 2% target.
