US Federal Reserve has hiked the interest rates by another 75 basis points, to a range of 3.75 percent to 4 percent. The reason for the Fed’s hawkish monetary stance this year is inflation. Addressing a news conference last night, Fed Chairman Jerome Powell warned that taming severe inflation will likely require even higher interest rates. Fed officials expect the problem to linger into next year, that leaves open the possibility rate hike in the future also. The rate, which was near zero in March, has jumped 3.75 percentage points in the last eight months.
Trending Now
- “Searchlight” and “Rhododendron Cafe,” Two Poems by Shaswata Gangopadhyay in translation from Bengali by Rajdeep Mukherjee
- Three New Poems by Eva Lianou Petropoulou of Greece
- Three New Poems by Jasna Gugić from Croatia
- Wish to Be a Fish, A Poem by Rachana Sunar
- Wings of Knowledge, A Poem by Anila Bukhari
- Three New Poems by Eileen Moynihan
- Mannequin and Her Apparel, A Poem Composed by Bishwa Sigdel, translated from Nepali by Anjila Bista
- Three New Poems by Eva Petropoulou Lianou
- The Crepe Myrtle and Summer of Blooms, Two Poems by Ranjit K. Sahu
- FIVB President Dr. Ary S Graça Conferred KISS Humanitarian Award
Comments are closed.