{"id":93634,"date":"2023-05-03T18:15:46","date_gmt":"2023-05-03T18:15:46","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/05\/03\/fed-raises-us-interest-rates-to-highest-in-16-years\/"},"modified":"2023-05-03T18:15:46","modified_gmt":"2023-05-03T18:15:46","slug":"fed-raises-us-interest-rates-to-highest-in-16-years","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/05\/03\/fed-raises-us-interest-rates-to-highest-in-16-years\/","title":{"rendered":"Fed raises US interest rates to highest in 16 years"},"content":{"rendered":"
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The US Federal Reserve has raised interest rates to their highest level in 16 years in a fight to stabilize prices. <\/b><\/p>\n<\/div>\n

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The Federal Reserve raised interest rates by 0.25 percentage points – the 10th hike in 14 months.<\/p>\n<\/div>\n

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The moves have sharply increased the cost of borrowing in the world’s largest economy, triggered a slowdown in sectors such as housing and played a role in the recent collapses of three US banks.<\/p>\n<\/div>\n

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The Fed signaled Wednesday’s surge could be the last for now.<\/p>\n<\/div>\n

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The bank began aggressively raising interest rates last year as prices in the US rose at their fastest pace in decades. <\/p>\n<\/div>\n

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The moves have increased the target range for the benchmark interest rate to between 5% and 5.25% from near zero in March 2022.<\/p>\n<\/div>\n

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Central banks around the world, including the UK and Europe, have taken similar action. <\/p>\n<\/div>\n

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Higher interest rates make it more expensive to buy a home, borrow money to expand a business, or take on other debt. By raising those costs, officials expect demand to fall and prices to cool. <\/p>\n<\/div>\n

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Since the start of the Fed’s campaign, US rate hikes have shown signs of slowing down. <\/p>\n<\/div>\n

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In March, inflation, the rate at which prices are rising, was 5% – the lowest in almost two years – although it’s still uncomfortably high for the Fed, which is targeting a 2% rate. <\/p>\n<\/div>\n

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Gregory Daco, chief economist at EY-Parthenon, said he thinks the Fed would be “cautious” about pausing now, noting that risks to the economy increase if activity slows. <\/p>\n<\/div>\n

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“The fear of a recession is very present in the economy today,” he said. \u201cI don’t think the inflation battle is over but we are in a situation where we are seeing gradual disinflation and we are also in an environment where interest rates are high and elevated and should therefore limit business activity , which should lead to further disinflation in the coming months.” <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The US Federal Reserve has raised interest rates to their highest level in 16 years in a fight to stabilize prices. The Federal Reserve raised interest rates by 0.25 percentage points – the 10th hike in 14 months. The moves have sharply increased the cost of borrowing in the world’s largest economy, triggered a slowdown […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-93634","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nFed raises US interest rates to highest in 16 years - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/05\/03\/fed-raises-us-interest-rates-to-highest-in-16-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed raises US interest rates to highest in 16 years\" \/>\n<meta property=\"og:description\" content=\"The US Federal Reserve has raised interest rates to their highest level in 16 years in a fight to stabilize prices. 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