Federal Reserve Chairman Jerome Powell intensified their effort to cool prices by lifting the target range for the federal funds rate to 1.5% to 1.75%.

Federal Reserve stated that they may keep hiking rates this year, to restrain the rampant inflation.

Federal Reserve raised main interest rate by 75 basis points -- the biggest increase since 1994.

Federal Reserve reportedly said that they may keep hiking rates this year, to restrain the rampant inflation.

Federal Reserve Chairman Jerome Powell intensified their effort to cool prices by lifting the target range for the federal funds rate to 1.5% to 1.75%.

The Reserve Bank of India had hiked the short-term rates by 50 basis points to 4.90 per cent, in its June monetary policy.