Fed raises key interest rate by 0.75 percentage points

The Fed is still battling high inflation in the U.S. and raises the key rate by 0.75 percentage points.

The Fed is still battling the high inflation in the U.S. and raises the key rate by 0.75 percentage points.

The Fed raises the key rate again. The U.S. Federal Reserve announced this a few minutes ago in a press release. Then Fed Chair Jerome Powell answered questions from journalists. In total, the central bank raises the rate by 0.75 percentage points to 3.25%. Experts had already expected a 0.75 basis-point move.

With this move, the U.S. monetary watchdog aims to rein in inflation further. Inflation fell in August, but not as much as originally expected. In an initial reaction, Bitcoin dropped 5.6%. At a Jackson Hole gathering, Powell again signaled he would not ease monetary policy.