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Tag: interest

US Fed hikes interest rates 0.25 percent amid market turmoil

The US Federal Reserve raised the interest rate by 0.25% on Wednesday as it battles stubborn inflation and a banking crisis, which has pushed the central bank into taking its largest emergency actions since the onset of the pandemic. The rate hike brings the Fed’s policy rate, the federal funds rate, to a new range of 4.75%-5%, the highest since October 2007. Robert Scott is…

Biden tells Modi more Russian oil imports not in India’s interest

United States President Joe Biden has held a “constructive, direct conversation” with Indian Prime Minister Narendra Modi, the White House said, as the US is seeking more help from India to apply economic pressure on Russia over its invasion of Ukraine. In a news briefing on Monday afternoon, White House press secretary Jen Psaki said Biden told Modi that his administration could help India diversify…

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