Fed Increases Rates By 25 Basis Points But Signals Hikes Are Near An End | Power Breakfast

In an expected move, America's central bank - Federal Reserve - on Wednesday hiked interest rates by 25 basis points to tame high inflation despite the banking crisis. The Fed was earlier expected to raise rates by 50 basis points, but the banking crisis in the US appears to have prompted it to go slow to avoid a further meltdown. The central bank has committed to bringing down the inflation to 2 per cent from currently over 6 per cent.In its statement, the Fed said recent indicators pointed to modest growth in spending and production, and job gains had picked up and were running at a robust pace. The unemployment rate has remained low and inflation remains elevated.#usfedreserve #usfedhikesinterestrates #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday About CNBC-TV18: