America
US Fed delivers another big interest rate hike
Washington, Sep 22 (IANS) The US Federal Reserve announced another interest rate hike to fight inflation amidst growing concerns that the central bank could end up slowing down the economy.
The 0.75 hike was the fourth in 2022.
"We have got to get inflation behind us. I wish there were a painless way to do that," Fed Reserve Chairman Jerome Powell said. "There isn't".
He added: "We want to act aggressively now, and get this job done, and keep at it until its done."
A further increases are expected later in the year, of three-fourth, which would take the benchmark rate to 4.4 per cent, including a three-fourth hike in November and by a half point in December.
More rate hikes will follow next year.
4 hours ago
USCIS to Open International Field Offices in Qatar and Turkey
4 hours ago
Vibrant Eid Celebrations: Indian Muslim Community Lights Up New York's Consulate General of India!
4 hours ago
Indian Americans condemn Prime Minister Narendra Modi’s Anti-Muslim hate speech
7 hours ago
Vegan Ram Navami is celebrated in New Jersey by World Vegan Vision.
7 hours ago
Open Letter to the People: The Success of New York City
7 hours ago
A trade mission is being launched in New Delhi by the USDA secretary.
7 hours ago
The graduating address at Virginia Tech will be given by Mehul Sanghani.
7 hours ago
A tragic car crash in Arizona claims the lives of two Indian students.
7 hours ago
The White House National Strategy for Suicide Prevention will be spearheaded by two Indian Americans.
9 hours ago
Biryani blunder: Lord Ram's image on plates sparks outrage in Delhi
9 hours ago
India and France step up work on creating a new National Museum in Delhi
9 hours ago
Doughty daughters campaign for parents in UP
9 hours ago
78-year-old man dies while swimming from Sri Lanka to Rameswaram