Washington, Sept. 21 (EFE).- The US Federal Reserve (Fed) on Wednesday announced a 0.75 point increase in the key rate, the fifth increase since March and the third consecutive increase of three quarters of a point, in a new attempt to control inflation.
The US central bank has responded to economists’ expectations and the official interest rate for the world’s largest economy is now in a range between 3% and 3.25%, the highest level in 14 years.
After two days of meeting, the members of the Federal Open Market Committee of the Fed made this decision, which will be justified in the next few minutes by the chairman of the Reserve, Jerome Powell, during a press conference.
Powell had already anticipated last July, when he announced the previous hike, that another “unusually large” rate hike would possibly take place in September, a prediction he has repeatedly reaffirmed in his latest public speeches. .
A measure to deal with inflation
In various public protests in recent weeks, he has stressed the need for the Fed to continue tight monetary policy to bring prices down and prevent citizens from getting used to high inflation, which stood at August 8, 3%.
“We must act now boldly, forcefully, as we have done, and we must continue to do so until the job is done,” he told a recent conference.
The rise comes a week after the release of the latest inflation data, which showed that although the annual CPI rate fell two ticks in August to 8.3% in monthly terms, prices rose by a tenth compared to July.
Data that shows that, for now, the series of interest rate hikes that the Fed has been implementing since March are still not having the desired impact on prices.