Fed hikes rates with future hints

The U.S. Federal Reserve raised interest rates by a quarter percentage point to a range of 3.75% to 4%, marking the first increase in three years, as part of its efforts to combat ongoing inflation, with indications of possible additional hikes in the coming months. This decision followed remarks from the new Fed Chair Kevin Worch, who indicated that the current administration is unable to control inflation, while the dollar maintained its recent gains and rose against major currencies. Former U.S. President Donald Trump had called for lowering interest rates below global levels, emphasizing the importance of making them lower than those of other countries.

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