Economy: US Federal Reserve raises key interest rate again significantly

In view of the high rate of inflation, the US Federal Reserve increased its key interest rate by 0.75 percentage points for the second time in a row. It is now in the range of 2.25 to 2.5 percent, as the Federal Reserve (Fed) announced on Wednesday. With this measure, the central bank of the world’s largest economy wants to get the high consumer prices under control. Although the move was expected, it is still noteworthy. The Fed is advancing in the fight against rampant inflation at a pace not seen in decades.