WASHINGTON: Interest rates in the United States have risen sharply to 0.75 percent in the name of controlling inflation.
According to a report by a foreign news agency, the Federal Open Market Committee, which formulates the policy of the Federal Reserve, has confirmed that it is committed to bringing inflation back to its target of 2 percent and expects that the rate will continue to increase.
The Federal Reserve chairman said interest rates could be raised by 0.75 percent in July, trying to stem the recession. It should be noted that this is the first time since 1994 that interest rates have increased so much.
It may be recalled that a few days ago, 70 percent of academic economists had warned that the US economy would go into recession next year. In addition, last month, Germany’s Deutsche Bank predicted a recession in the United States next year.