The Federal Reserve has provided the clearest hint yet that it could start raising interest rates as soon as March. While the country faces turbulent financial markets and skyrocketing inflation, the Federal Reserve indicated it could soon raise interest rates for the first time in more than three years.

 

The Fed’s policymaking group have stated an increase of  a quarter-percentage point is likely in the next rate spike - the decision comes in the middle of inflation running at its hottest level in nearly 40 years. U.S. central bank chief, Jerome Powell recently made a key point stating that with inflation high and apparently  getting worse, the Fed’s plans to clamp down on credit and promptly end the support that it has provided to the U.S. economy during the coronavirus pandemic.