Azerbaijan news

The Fed has raised the discount rate to a record level

The US Federal Reserve System (FRS) has raised the discount rate by 0.75%.

This is stated in a press release of the organization.

Thus, the discount rate was raised to 1.50%.

This is the largest interest rate increase since 1994.

The Fed also cut its forecast for US GDP growth in 2022 from 2.8% to 1.7%.

The Fed also cut its forecast for US GDP growth in 2022 from 2.8% to 1.7%.

In addition, the Fed raised its forecast for the US unemployment rate in 2022 from 3.5% to 3.7%, and in 2023 from 3.5% to 3.9%.

The inflation forecast was raised from 4.3% to 5.2%.

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