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The Economic Times
The Economic Times

Dollar rises after Fed hikes rates in bid to counter inflation

US Federal Reserve Inflation the Federal Reserve Kevin Warsh Interest Rates United States Bitcoin Japan

The dollar rose against a basket of currencies on Wednesday after the Federal Reserve raised interest rates and flagged further increases in borrowing costs in coming months.

The Fed lifted the benchmark interest rate to the 3.75%-4.00% range, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation.

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