US raises interest rates by 50 points -- the biggest hike in two decades

) has raised its interest rate by 50 basic points — the biggest hike since 2000 — in an effort to curb rising inflation.

In a statement, the Fed said although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong, adding that job gains have been robust in recent months, and the unemployment rate has declined substantially.But inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.

-related lockdowns in China are likely to exacerbate supply chain disruptions. The committee is highly attentive to inflation risks,” it said.“The committee seeks to achieve maximum employment and inflation at the rate of two per cent over the longer run. With appropriate firming in the stance of monetary policy, the committee expects inflation to return to its two per cent objective and the labour market to remain strong.

50 'basis' points. You need to be specific if u want to report this accurately.

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US raises interest rates by 50 points -- the biggest hike in two decades | TheCableThe United States Federal Reserve (Fed) has raised its interest rate by 50 basic points — the biggest hike since 2000 — in an effort to curb rising inflation. The By 0.5 percent How does raising interest rates help in creating more wheat and oil? you can print money, but you can not print resources
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