US Federal Reserve hikes interest rates by 50 basis points

The US Federal Reserve has moved to help tame soaring inflation by announcing the sharpest rise in interest rates in over 20 years. The Fed's benchmark interest rate has been raised by half a percentage point, to a target rate range of between three-quarters of a percent and one-percent. The Bank of England also raised rates this week, raising its benchmark a quarter-point to 1%, its highest level since February 2009. While Australia's Reserve Bank stunned analysts with a 25 basis points rise to 0.35% the first increase in more than a decade. India's central bank also surprised pundits with a 40-point hike, taking its benchmark repo rate to 4.4%. We had Massimo Massimilla who joined us from Milan. He's a partner and chief information officer of alternative strategies at Albemarle Asset Management. #FederalReserve #InterestRates #Inflation