The US Federal Reserve raised the rate to 2.25-2.5%: Fed raises rates by three-quarters of a point for second straight meeting

NEW YORK: The US Federal Reserve System (FRS), which acts as the country's central bank, raised the base interest rate by 0.75 percentage points, to 2.25-2.5%, for the second time in a row, follows from a message on the website of the American regulator.

"The [Open Market Committee] aims to achieve maximum employment and inflation of 2% over the long term. In support of these goals, it has decided to raise the target range for the federal funds rate to 2.25-2.5% and expects further an increase in the target range would be appropriate," the statement said.

The Fed will also continue to reduce its holdings of Treasuries and mortgage-backed securities, as outlined in balance sheet reduction plans released in May. "The Committee will continue to monitor incoming information regarding the economic outlook and is ready to adjust its position on monetary policy accordingly," the regulator added.

All committee members voted for the rate increase. The next meeting of the American regulator will be held on September 21, 2022.

https://www.bankrate.com/banking/federal-reserve/fomc-meeting-recap-july-2022/