The US Federal Reserve (Fed), on June 15, raised interest rates by 75 basis points — the biggest increase since 1994 — and Chair Jerome Powell signalled another big move next month, intensifying a fight to contain rampant inflation.
Quoteworthy: "The shortage of foodstuff will inexorably lead to political chaos, which can result in the falling of many governments and the ousting of many politicians," — Ukrainian President Volodymyr Zelensky speaking at the IISS Shangri-La Dialogue 2022 on June 11
Fed announced largest rate hike in 28 years, more to come
