Fed signals 0.5% rate hike in May

The Federal Reserve Chair, Jerome Powell, said that hiking interest rate by 50pbs would be discussed during the May meeting estimating more hikes this year.

This comes within many procedures the Fed is trying to take, in order to put inflation back under control.

He added that raising the interest rates by 0.5% in the next meeting will be suitable to curb higher prices.

It should be noted the U.S. Consumer price Index (CPI) rose last March by 7.5% to hit the highest since 1981.