US Federal Reserve Increases its key rate by 0.75% - July 27, 2022
The US is struggling to rein in inflation (9.1% last month) while trying to avoid a recession. The target growth in inflation is 2% per year. Federal Reserve Chairman Jerome Powell said parts of the economy are slowing, but he still expects that the Fed will continue to raise interest rates in the near future.
What happens in the USA often follows in Canada.