Fed raises interest rates to 22-year high, leaves door open for more

Fed raises interest rates to 22-year high, leaves door open for more
The Fed's chair, Jerome Powell, said policymakers have a long way to go to return inflation to their 2% goal. (Image: Bloomberg)
Bloomberg
By Steve MatthewsThe Federal Reserve resumed raising interest rates, and chair Jerome Powell left open the possibility of further hikes, which he emphasized will depend on incoming data that has recently signalled a resilient US economy.After pausing rate increases in June, policymakers lifted borrowing costs again at their policy meeting on Wednesday for the 11th time since March 2022 to curb inflation. The quarter-percentage-point hike, a unanimous decision, boosted the target range for the Fed’s benchmark federal funds rate to 5.2...

More Bloomberg

China floods the world with AI models after DeepSeek’s success
Technology

China floods the world with AI models after DeepSeek’s success

Long-dormant Chinese tech sector now fired up, and Western rivals may pay the price.

Bloomberg 29 Mar 2025
Thailand plans to cut tourists’ visa-free stays to 30 days
Travel

Thailand plans to cut tourists’ visa-free stays to 30 days

Govt cracking down on travellers exploiting the waiver to engage in illegal businesses.

Bloomberg 23 Mar 2025
Fears for 1,000 wind projects as German election nears
Energy

Fears for 1,000 wind projects as German election nears

Expansion of energy source is at risk of a drastic slowdown, industry group says.

Bloomberg 01 Feb 2025
UK burying Thatcher’s privatisation legacy
Policy Opinion

UK burying Thatcher’s privatisation legacy

Experience with privatised public services has soured.

Bloomberg 04 Jan 2025