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France 24

Business

US Federal Reserve hikes interest rates to tackle inflation

US Federal Reserve Inflation Interest Rates Jerome Powell United States Economy

BUSINESS DAILY © FRANCE 24

The US Federal Reserve has hiked interest rates by half a percentage point - double its usual rate - to tackle the country’s highest level of inflation in 40 years. Fed Chairman Jerome Powell said it was 'essential' to lower inflation and reduce hardship for American families. Thomas Costerg, Senior Economist at Pictet Wealth Management, says the move will help balance the economy.

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