US Federal Reserve hikes benchmark rates by 75 basis points

The US Federal Reserve has announced another big hike in interest rates, as monetary authorities seek to keep a lid on inflation. Consumer prices in the world's largest economy are going up at their fastest rate in four decades. In response, the American central bank has raised its benchmark by 75 basis points for the second consecutive meeting. We spoke to Russ Mould, investment director at AJ Bell. He gave us his reaction to the Fed's move. #UnitedStates #FederalReserve #InterestRates