Fed Hikes Interest Rates as Jobs Data, Inflation Rise

The US Federal Reserve implemented another interest rate hike last Wednesday, the central bank’s second rate hike within a three-month period. The said rate hike was allegedly spurred by a consistently positive economic growth and steady job gains as well as a rising confidence in the country’s inflation rates. The Fed increased its rates by 0.25 basis points in order to reach the 75% range as part of the central bank’s attempt to revert its monetary policies to its previous stance. However, the central bank emphasized that its subsequent interest rates would be on a more gradual pacing, especially since its rates are not scheduled to retreat to its neutral region within two years.