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jirapotn66 Offline
#1 Posted : Sunday, June 26, 2022 3:00:38 AM(UTC)

Rank: Advanced Member

Joined: 9/29/2021(UTC)
Posts: 233

Bank of America may raise interest rates again to keep inflation at 2%.
The Federal Reserve raised interest rates the biggest in 28 years and signaled another rate hike. to pull the country's inflation rate to come down to the target

Foreign news agencies reported from Washington. United States onSLOTXOJune 16 that Mr. Jerome Powell, Chairman of the Federal Reserve (Fed) announced on Wednesday that the monetary policy committee. (FOMC) unanimously It raised the policy rate by 0.75% to between 1.5-1.75%, the highest rate hike since 1994.

Even the Fed chairman admits that This rate hike is much higher than usual. But there is a possibility as well. At the next FOMC meeting in July, interest rates may be raised further by 0.50-0.75% to combat the worst inflation crisis in four decades, with the Fed maintaining its target. The US inflation rate was at 2%. If the Fed continues to raise interest rates US interest rates may hit 3.4% by year-end

The FOMC also lowered its forecast for US economic growth this year to 1.7 percent from its March estimate that gross domestic product (GDP) GDP) is likely to expand at 2.8%.
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