US Federal Reserve raises interest rates - Economist

After many years of waiting, the US Federal Reserve raised the interest rate on Wednesday, March 16, 2022, for the first time since 2018 by 0.25% to 0.5%, after keeping the interest rate steady near zero since the beginning of the Corona pandemic.

Federal Reserve Chairman Jerome Powell said that there will be a rate hike in the range of 1.75% and 2% by the end of this year, as the Federal Reserve has determined that there will be a rise in interest rates at each of the remaining six meetings this year.

The Federal Reserve announced in its expectations that the inflation rate will be at 4.3% in 2022, at 2.7% in 2023, and 2.3% in 2024. As for the unemployment rate in the United States of America, it will reach 3.5% in 2022, 3.5% in 2023, and 3.6 % in 2024.