URGENT: Fed raises interest rates, signals six more hikes in 2022

Economy

The U.S. Federal Reserve on Wednesday decided to raise key interest rates for the first time since 2018 and signaled six more quarter-percentage-point rate increases this year amid high inflation and the war in Ukraine. Upon concluding a two-day meeting of the policy-setting Federal Open Market Committee, the bank said it will lift its target range for the federal funds rate to 0.25 to 0.5 percent after maintaining the level at near-zero to support the economic recovery from the downturn triggered by the coronavirus pandemic. The Fed also said it expected at "a coming meeting" to start reducin...

Kyodo News

Kyodo News