The US Federal Reserve raised rates immediately to 50 basis points for the first time since 2000 of the year
4 May the regulator aggressively tightened policy, to cope with the record 40 years of inflation. The rate was raised to 0.75-1%. Fight price rises Fed chief Jerome Powell has long called inflation "temporary". Now, to somehow slow down the rise in prices, Fed forced to raise rates faster, than planned.