US Fedral Reserve Raises Interest Rates By 0.75 Percentage Points For The Fourth Time In A Row To 4 Percent

The rate now sits at 4 percent (above) as mortgage rates jumped to 7.16 percent last week, well above levels prior to the 2008 Great Recession  

Daily Mail: Fed raises interest rates by 0.75 percentage points for the fourth time in a row to 4 percent - hiking the cost of living for average American family: Central bank warns it may not slow down and will 'stay the course until the job is done' 

* The Federal Reserve increased interest rates by another 0.75 percentage points to hit 4 percent on Wednesday 

* It is the fourth time in a row the central banks has made such an aggressive hike in a bid to quell rampant inflation, which remains high at 8.2 percent 

* While the rate hike could cause inflation to drop, it will raise the cost of borrowing for Americans as mortgage rates sit above 7 percent 

* Experts and lawmakers have warned that the aggressive rate hikes won't jus cool off the economy, it'll send the US into a full recession 

The Federal Reserve has hiked interest rates by 0.75 percentage points on Wednesday - the fourth such increase in a row - in order to combat rampant inflation. 

The central bank bumped interest rates from 3.25 percent to 4 percent, another aggressive push as the inflation rate, which hit a 41-year high over the summer, remains towering at 8.2 percent. 

Although inflation could decrease through the hikes, the cost of borrowing for American's is expected to surge, with mortgage rates hitting 7.16 percent last week, well above the rates prior to the 2008 economic crisis.  

Read more ....  

Update #1: Fed unleashes another big rate hike but hints at a pullback (AP)  

Update #2: Fed delivers big rate hike, signals possible smaller increases ahead, article with gallery (Reuters)  

Update #3: Powell Pulls Rug Out From Euphoric Fed Statement Reaction, Terminal Rate Spikes (Zero Hedge)  

WNU Editor: Bottom line. US Interest rates are going to continue to go up.