America
US Fed delivers another big interest rate hike
Washington, Sep 225
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.
6 hours ago
Rahul, Priyanka's 'proposed' visit to Ayodhya evokes sharp reactions from saints
20 hours ago
The BioInnovation Institute and Science presented the Innovation Prize to Indian American Aditya Kunjapur
20 hours ago
Pennsylvania Republican primary results show Haley with over 150,000 votes.
20 hours ago
Mandates airline refunds and fee transparency introduced by Biden
20 hours ago
Initiative to tackle newborn malnutrition in rural India promoted by the Indian Consulate in NY
20 hours ago
In Los Angeles, a high-ranking US diplomat convenes with the Jain community
20 hours ago
The Peabody Award has nominated two Indian documentaries as finalists.
just now
21 hours ago
Indian rupee to appreciate to Rs 82–82.50 in FY25: CARE Ratings
21 hours ago
Reservation given earlier to Muslim community continued in K’taka: CM Siddaramaiah
21 hours ago
Congress, SP playing divisive politics, says PM Modi in Agra
22 hours ago
Nestle India’s net profit up 27 pc in Q4; to form a JV with Dr Reddy’s Laboratories
22 hours ago
BMW's another all-electric car launched in India