Federal reserve raises benchmark rates, biggest interest rate hike in 3 decades

Updated: Jun 16, 2022, 12:32 PM(IST) WION Video Team

The US Federal Reserve raised its benchmark interest rate by 75 basis point. This is the biggest and most aggressive interest rate increase since 1994. The Federal Open Market Committee said that it decided to raise the target range for the benchmark borrowing rate to 1.5%-1.75%.

Read in App