U.S. Fed raises rates by another three-quarter point amid persistent inflation

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U.S. Fed raises rates by another three-quarter point amid persistent inflation

STORY: U.S. Fed raises rates by another three-quarter point amid persistent inflation DATELINE: July 28, 2022 LENGTH: 00:01:47 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Jerome Powell addressing the press 2. various of exterior of U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, the second in a row of that magnitude, as elevated inflation showed no clear sign of easing. The Fed said in a statement after a two-day policy meeting that "Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures," adding that the central bank is "highly attentive to inflation risks." The Fed said that "The war (in Ukraine) and related events are creating additional upward pressure on inflation and are weighing on global economic activity." The Federal Open Market Committee (FOMC), the Fed's policy-making body, decided to rai

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  • 2022/7/28 00:00:00
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