US central bank hikes rate, eyes inflation

By Christopher Rugaber
Updated March 16 2022 - 6:41pm, first published 6:39pm
The US central bank has signalled an aggressive turn against inflation, with more hikes to come.

The US Federal Reserve has launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signalling potentially up to seven rate hikes this year.