Fed announces highest interest rate hike since 2000

The US central bank cites inflation to raise the base interest rate by 0.5% and sell off its balance sheet

Citing high inflation, the US Federal Reserve has raised its base interest rate by 50 basis points, or 0.5%, and announced it would be selling off some assets from its $9 trillion balance sheet. The rate hike is the highest since May 2000, when the dot-com stock bubble burst.

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