The US Federal Reserve raises interest rates by 75 basis points.

Central bankers unanimously raised the benchmark federal interest rate to a range of 3 - 3.25%.

This is the third hike by the US central bank since the beginning of this year.

The goal is to deal with inflation not seen in five decades, which reached 8.3% in August.

The dollar hit a 20-year high because of the war in Ukraine

In their forecast until the end of this year, the central bankers expect a new increase, with which the interest rate will reach 4.4%.

Expectations for the economic growth of the US economy next year to 1.2% and in 2024 to 1.7% have been lowered, as a result of the tightening of monetary policy.

The long-term forecasts of Jeremy Powell and his colleagues are that a drop in interest rates to 3.9% will be reached in 2024, and to 2.9% in 2025.

interest rate

federal reserve