Gold and metals

U.S. Federal Reserve raises interest rates by a quarter percentage point

The U.S. Federal Reserve raised its benchmark overnight interest rate by a quarter percentage point to a range of “3.75 and 4%,” and signaled further increases in the coming months.

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U.S. Federal Reserve raises interest rates by a quarter percentage point

The U.S. Federal Reserve raised its benchmark overnight interest rate by a quarter percentage point on Wednesday to a range of “3.75 and 4%,” in a unanimous decision, while the central bank signaled that further increases could be implemented in the coming months.

Unanimous decision

New Federal Reserve Chair Kevin Warsh took part in the decision, which was unanimously supported by board members amid continued inflationary pressures in the United States.

Signal of further increases

The board’s signal of additional moves means that the path of interest rates will remain tied to developments in inflation in the coming months, following the latest increase in the benchmark overnight interest rate.

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