Fed decides on biggest rate hike in over 20 years to tackle inflation

The U.S. Federal Reserve on Wednesday raised key interest rates by half a percentage point, the biggest rate hike in over 20 years as it rushes to address high inflation stemming from Russia's war in Ukraine and coronavirus pandemic-linked supply chain disruptions.Upon concluding a two-day meeting of the policy-setting Federal Open Market Committee, the central bank moved as widely expected in deciding to lift its target range for the federal funds rate to 0.75 to 1.00 percent, noting that it is "highly attentive to inflation risks."In further monetary policy tightening, the Fed also announ…READ FULL ARTICLE