{"id":4334,"date":"2022-07-27T21:45:21","date_gmt":"2022-07-27T21:45:21","guid":{"rendered":"https:\/\/adugyasidennis.com\/?p=4334"},"modified":"2022-07-27T21:47:49","modified_gmt":"2022-07-27T21:47:49","slug":"us-makes-huge-interest-rate-rise-to-tame-soaring-prices","status":"publish","type":"post","link":"https:\/\/adugyasidennis.com\/index.php\/2022\/07\/27\/us-makes-huge-interest-rate-rise-to-tame-soaring-prices\/","title":{"rendered":"US makes huge interest rate rise to tame soaring prices"},"content":{"rendered":"
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The US central bank has announced another unusually large interest rate hike as it battles to rein in soaring prices in the world’s largest economy.<\/b><\/p>\n<\/div>\n<\/div>\n

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The Federal Reserve said it would increase its key rate by 0.75 percentage points, targeting a range of 2.25% to 2.5%.<\/p>\n<\/div>\n<\/div>\n

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The bank has been raising borrowing costs since March to try to cool the economy and ease price inflation.<\/p>\n<\/div>\n<\/div>\n

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But fears are rising the moves will tip the US into recession.<\/p>\n<\/div>\n<\/div>\n

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Recent reports have shown falling consumer confidence, a slowing housing market, jobless claims rising and the first contraction in business activity since 2020.<\/p>\n<\/div>\n<\/div>\n

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Many expect official figures this week will show the US economy shrank for the second quarter in a row.<\/p>\n<\/div>\n<\/div>\n

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In many countries, that milestone is considered a recession though it is measured differently in the US.<\/p>\n<\/div>\n<\/div>\n

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