Kathmandu. The interest rate in the United States has been raised for the first time in more than 3 years. This step has been taken to curb rising inflation and it can be increased further, according to the Federal Reserve. <\/p>\n
In a unanimous decision, the Federal Reserve raised interest rates between 3.75% and 4%. Previously, they were between 3.5% and 3.75%. <\/p>\n
This decision was taken despite strong opposition from President Donald Trump. He had demanded a rate cut. <\/p>\n
According to Federal Reserve Chairman Kevin Wars, the move was taken on the grounds that “inflation is very high and has persisted for a long time”. He called it a “serious” and “responsible decision”. <\/p>\n
However, Trump said the interest rate should be “1% or less” because we have the best credit in the world, no competition. \u2019<\/p>\n
Rising interest rates make loans, home loans, and credit cards expensive. However, it can give good returns on savings. <\/p>\n
At a news conference after Wednesday’s decision, Wars said there was “an atmosphere of optimism” at the Federal Reserve, but inflation remains a problem. <\/p>\n
Like many central banks, the Fed aims to keep inflation at or below 2%. Wars noted that inflation in the United States has been above this threshold for more than 5 years. This situation has made rising commodity prices and affordability a major concern for American voters. <\/p>\n
Since the start of the US-Israel war with Iran, the price of fuel has also increased due to the sharp increase in the price of wholesale oil. As a result, the cost of many goods and services has increased. \u2013 Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The interest rate in the United States has been raised for the first time in more than 3 years. This step has been taken to curb rising inflation and it can be increased further, according to the Federal Reserve. In a unanimous decision, the Federal Reserve raised interest rates between 3.75% and 4%. Previously, […]<\/p>\n","protected":false},"author":16,"featured_media":199958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-315954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/315954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=315954"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/315954\/revisions"}],"predecessor-version":[{"id":315955,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/315954\/revisions\/315955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/199958"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=315954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=315954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=315954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}