The Fed raised interest rates by 75 basis points and worsened the outlook for the U.S. economy

At yesterday's meeting, the Federal Reserve expectedly raised the rate by 75 basis points to 3 - 3.25% per year, the third such increase in a row this year. The regulator announced its decision on its official website. This step was expected by most analysts and market participants.

Along with this, the Federal Reserve provided forecasts regarding the future of the US economy. Despite the fact that the latter entered recession by the results of the first two quarters, it still expects its growth by the end of the year, though insignificant - by 0,2%. Its forecast for the next year was considerably lowered - to 1,2% (for comparison, in June it was 1,7%).

In addition, the regulator believes that inflation in the United States, which has reached a forty-year high and exceeded 8%, will be at 2.8% next year. It expects unemployment to be 4.4%. Previous estimates for the latter two indicators were 2.6% and 3.9%, respectively.