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13 Aug 2022 16:08
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  •   Home > News > Business

    America's Federal Reserve has announced its biggest interest rates hike in a generation -- and is warning more hikes are on the way

    America's Federal Reserve has announced its biggest interest rates hike in a generation -- and is warning more hikes are on the way


    It's raised the cash rate by 75 basis points -- the highest increase since 1994.

    The move is a desperate effort to control inflation, and follows a volatile few days on global markets.

    Federal Reserve Chairman Jerome Powell spoke moments ago, revealing today's hike could be one of many.

    He says the Fed will strive to avoid adding uncertainty during an already uncertain time, but the American economy is very strong and well positioned to handle tighter monetary policy.

    © 2022 Newstalk ZB, NZCity

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     Today's News

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    Politics:
    Chris Luxon has explained his decision to have an independent investigation into Sam Uffindel 14:49

    Tennis:
    Australian Nick Kyrgios' winning run has come to an end at the Montreal Masters 1000 14:49

    Soccer:
    A language barrier will be the biggest challenge for the Wellington Phoenix's latest import signing 14:19

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    International:
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