US Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled ‘The Semiannual Monetary Policy Report to the Congress’ in Dirksen Building in Washington, DC, on 3 March 2022. Photo: EPA-EFE
US Fed’s rate increase: Blackrock, Charles Schwab, Invesco, JPMorgan and PGIM Fixed Income on the future of interest rate movements
- The US Fed raised its key interest rate by 25 basis points, from a target range of zero to 0.25 per cent, to a range of 0.25 per cent to 0.5 per cent
- That officially ended the era of zero interest rates as the monetary authority kept the cost of capital cheap to bolster an economy being ravaged by the Covid-19 pandemic
US Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled ‘The Semiannual Monetary Policy Report to the Congress’ in Dirksen Building in Washington, DC, on 3 March 2022. Photo: EPA-EFE
