Tag: inflation

As of May 17, 2022 the inflation rate in the United States is at 8%, England 6%, Algeria 9.6%, Angola 26%, Argentina 58%, Armenia 8.4%, Belgium 8.31%, Brazil 12.13%, Canada 7%, Chile 10.5% Colombia 9.23%, Cuba 23%, Denmark 6.7%, Czech-Republic 14%, Egypt 13%, India 8%, Lebanon 208%, Lithuania 17%, Mexico 8%, Peru 8%, Sri Lanka 30%, Syria 139% and Venezuela 222%.

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.

Federal Reserve officials are signaling that they will take an aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the economy.

The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year.

Addressing a concerned nation and anxious world, President Joe Biden vowed in his first State of the Union address Tuesday night to check Russian aggression in Ukraine, tame soaring U.S. inflation and deal with the fading but still dangerous coronavirus.