Watch: How will higher interest rates impact US consumers?
The Federal Reserve's Rate Hike: A Summary
The Federal Reserve has raised US interest rates to 3.75%-4% from 3.5%-3.75%, in an effort to curb inflation. This is the first such increase in three years.
Why the Increase? What Does it Mean?
As previously mentioned, the primary reason for this hike is to combat rising inflation. The BBC’s Samira Hussain provides a clear explanation:
Why has the increase taken place and what does it mean? The BBC’s Samira Hussain explains.
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