Fed raises interest rate for first time in 3 years

March 14-18, 2022
 

GetSmart: growing a tomato plant with a tomato slice

P.S. you may like this song =)

NewsBites

Breaking: President Biden and President Xi of China are set to talk today (Friday). The White House says it plans to address China’s favorable stance toward Russia amid the war. (read more)

The Federal Reserve raised interest rates by 0.25% on Wednesday, the first rate increase since 2018. The Fed committee approved the hike by a vote of 8-1. Notably, the central bank is planning 6 more increases in 2022, indicating interest rates could reach 2% or more by year’s end. The Fed has come under increasing pressure to combat inflation, which is running at the highest level since the 1980s.

Insight: Interest rates, which influence the cost for businesses and consumers to borrow money (mortgages, car loans), is one tool the Fed has to try and counter inflation.

‘No War’: Russian journalist, Marina Ovsyannikova, staged an appearance on Kremlin media in which she protested by holding up a…