U.S. Fed hikes rates in push for 'timelier' drop in inflation — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- U.S. Federal Reserve raised interest rates by a quarter of a percentage point, with Chair Kevin Warsh framing the move as a push for a 'timelier' drop in inflation.
- Warsh said inflation remains above the Fed's 2 per cent target and flagged further increases in borrowing costs in coming months.
Why it matters: A 25-basis-point hike raises borrowing costs for consumers and businesses, and Warsh's signal of 'further increases in coming months' extends that squeeze — with inflation still above the Fed's 2% target, the rate path is not finished.
Ask SkimNews
