EconomyLast Minute: The Fed decrees a new increase of...

Last Minute: The Fed decrees a new increase of 75 basis points in its interest rate; haven't seen anything like this since the 80's

The Federal Reserve unanimously decided this Wednesday to raise its reference interest rate by 75 basis points in an attempt to contain the inflationary rebound that is at its highest level in 40 years in the United States.

With this adjustment, the Fed ‘s main monetary policy instrument is located in a range between 2.25% and 2.50%. The increase represents one of the fastest turns in history from a low point in rates to a neutral level.

Inflation has accelerated since the Fed began raising rates in March, prompting policymakers to go from a quarter percentage point hike that month to a half percentage point hike in May and a 75 basis point hike in May. June.

That’s a trajectory not seen since former Fed Chairman Paul Volcker’s battle against inflation in the 1980s.

More information in a moment

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