People walk past the New York Stock Exchange in June. Photo: AP
People walk past the New York Stock Exchange in June. Photo: AP

US Federal Reserve unveils smaller rate hike, but says inflation battle not over

  • The half-point interest rate increase is a step down from previous 0.75-point hikes, as sectors like housing reel from the tightening policy
  • The US consumer price index logged its smallest annual increase in nearly a year, fuelling optimism that the Fed will moderate its efforts to rein in inflation

People walk past the New York Stock Exchange in June. Photo: AP
People walk past the New York Stock Exchange in June. Photo: AP
READ FULL ARTICLE