The Azerbaijan State News Agency

Azerbaijani President: A complete chain of the mining industry—all the way to the final product—must be created
President Ilham Aliyev touches upon factors impeding development of mining industry in Azerbaijan
President: Today we have substantial reserve generating capacities
President Ilham Aliyev: The new program reflects our agenda on the socio-economic development of regions
President Ilham Aliyev chaired meeting on State Program for development of mining and metallurgical industry VIDEO
Media forum marking 65th anniversary of OANA wraps up in Moscow
Representatives of Albanian-Udi Christian Community in Azerbaijan visit Ganjasar Monastery Complex in Aghdara
4.1M quake jolts Caspian Sea
AZERTAC and Vietnam News Agency to strengthen information exchange
Visa procedures simplified for FIFA U-15 World Cup & Festival 2026 – ORDER
Khankendi hosts Turkic World’s Women Artists exhibition
Emin Huseynov: Four residential settlements in Aghdam expected to be commissioned by year-end
President’s Special Representative: Nearly 4,500 people have been resettled in Khojavend district
Azerbaijani Defense Ministry presents weekly summary of events
September 20 marks City Day for Khankendi, Khojaly, Khojavend, and Aghdara

WORLD

US Fed raises interest rates by another 75 basis points

28.07.2022 [10:19]
Print
A⁺ A^-

US Fed raises interest rates by another 75 basis points

Baku, July 28, AZERTAC

The US Federal Reserve raised its benchmark interest rate Wednesday by another 75 basis points to fight inflation, according to Anadolu Agency.

The Federal Open Market Committee (FOMC) said it decided to raise the target range for the federal funds rate to 2.25% - 2.5% range.

The unanimous decision comes after the central bank made an interest rate increase of 75 basis points June 15 -- the largest hike in 28 years.

The FOMC reiterated that it anticipates "ongoing increases in the target range will be appropriate.

"Recent indicators of spending and production have softened," it said.

The FOMC said it is strongly committed to returning inflation to its 2% objective.

The Fed's aggressive rate hikes come amid rising consumer and producer prices which are hovering around their highest levels in 40 years.

US producer inflation increased 11.3% in June on an annual basis, while consumer inflation rose 9.1%.

Follow us on social network

Other news in this section

Nissan to launch hybrid SUV in U.S.

22.09.2026 [14:39]

Nissan to launch hybrid SUV in U.S.

5 million Sudanese return home to broken places, IOM warns

22.09.2026 [13:02]

5 million Sudanese return home to broken places, IOM warns

Turkish president calls for UN Security Council reform, end to veto privilege

22.09.2026 [11:11]

Turkish president calls for UN Security Council reform, end to veto privilege

German Chancellor Merz calls election result ‘a severe blow’ but rules out stepping down

21.09.2026 [22:19]

German Chancellor Merz calls election result ‘a severe blow’ but rules out stepping down

AI 'actress' Tilly Norwood suffers embarrassing glitch during now-viral interview

21.09.2026 [20:12]

AI 'actress' Tilly Norwood suffers embarrassing glitch during now-viral interview

Irish privacy regulator fines Google €403 million over location data processing

21.09.2026 [18:05]

Irish privacy regulator fines Google €403 million over location data processing

Scientists successfully test underwater solar cells 32 feet below the South China Sea

21.09.2026 [17:56]

Scientists successfully test underwater solar cells 32 feet below the South China Sea

Tesla faces major trial for alleged bias against Black workers, after years of lawsuits

21.09.2026 [17:40]

Tesla faces major trial for alleged bias against Black workers, after years of lawsuits

Humanoid robot sales tally hit 7,000 globally last year

21.09.2026 [15:40]

Humanoid robot sales tally hit 7,000 globally last year