Federal Reserve announces biggest interest rate hike in almost 30 years
The Federal Reserve said it would increase its benchmark rate by three quarters of a percentage point in a bid to rein in soaring consumer prices.
The US central bank has announced its biggest interest rate rise in nearly 30 years – raising its headline rate to a range between 1.5% and 1.75%. President and CEO of Carver Federal Savings Bank, Michael Pugh joins us from Harlem, New York City. We also hear from a restaurant and bakery owner in the US.
China and Russia have agreed to deepen their strategic cooperation; Associate Professor in Global Communication at Georgia State University, Maria Repnikova tells us why Beijing is looking to strengthen its relationship with Russia.
Also on the programme, after 27 years, Microsoft is retiring Internet Explorer for good. Author of Retro Tech Peter Leigh tells us about its history and why it’s coming to an end.
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- Wed 15 Jun 2022 22:32GMTΒι¶ΉΤΌΕΔ World Service except Europe and the Middle East