Wednesday, March 22, 2023 – 10:35 PM
Washington, March 22 / WAM / The US Federal Reserve, in its meeting held today, decided to raise interest rates by 25 basis points.
At the end of its meeting, the US Federal Reserve raised the interest rate to a range between 4.75 percent and 5 percent.
The US Federal Reserve seeks to confront inflation, which is recording high levels, with an annual rate of 6 percent last February, which is still well above the Fed’s target of 2 percent in the medium term.
This is the ninth consecutive time that the US Federal Reserve has raised interest rates since March 2022.
The US Federal Reserve raised the interest rate by 25 basis points last February, in addition to raising it by 50 basis points in December 2022, after it raised it by 75 basis points in last November, September, July and June in the largest increase since 1994, in addition to raising it by 50 basis points in May, the largest increase in 22 years, and an increase of 25 basis points in March of the same year.
Emad Al-Ali / Ramy Samih