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US: Fed raises interest rates again by 0.75%

The US is raising interest rates due to high inflation. | Font: EFE

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US Federal Reserve System (FRS) raised interest rates for the second time in two months after the central bank’s two-day meeting.

In a statement, the Fed said that this increase in the official interest rate is 0.75 points, so as a result of high inflation, the rate is changing from 2.25% to 2.5%.

0.75% increase in interest rate they have not been since 1994, when the Fed carried out a series of rate hikes to try to prevent runaway inflation.

At that time, the inflation rate was 2.7%, and now USA is facing a consumer price level of 9.1%, which has not been seen in the past 40 years.

According to the Board of Governors of the Federal Reserve System, further rate hikes are expected in the future.

“The Committee is firmly committed to the goal of returning inflation up to 2%,” the US central bank said.

Similarly, the Fed stressed that while some recent spending and production numbers have indeed softened, job creation continues to be solid.

In addition, the central bank insisted that it would continue to reduce its portfolio of government government debt. USAconsisting primarily of Treasury bills and mortgage-backed securities.

The US central bank is currently accumulating nearly $9 trillion in US debt.

As in previous months, fed in August it will sell $30 billion in treasury bills and $17.5 billion in mortgage-backed securities.

Starting in September, those monthly figures will rise to $60 billion and $35 billion, respectively, and the process will end when, according to the plan, levels considered “slightly above” what the bank considers “sufficient reserves” are reached. published by the Fed in May.

(According to the EFE agency).

Source: RPP

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