BusinessWorld E-paper
June 17, 2022
WASHINGTON — The US Federal Reserve on Wednesday approved its largest interest rate
increase since 1994 to stem a surge in inflation that US central bank officials acknowledged
may be eroding public trust in their power, and being driven by events seen increasingly
out of their hands.
The widely expected move raised the target federal funds rate by three-quarters of a percentage point to a range of between 1.5% and 1.75%, still comparatively low by
historic standards.
