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US interest rates hit 16-year high

The Fed's moves are aimed at stabilising inflation and have pushed the target range for its benchmark rate to 5.25%.

The US Central Bank has raised its interest rates to its highest level in 16 years. The Fed's moves are aimed at stabilising inflation and have pushed the target range for its benchmark rate to 5.25%. Federal Reserve chair Jerome Powell said the US was "getting close or maybe even there" to pausing its rate-hike campaign but was prepared to do more if warranted. But there has been criticism from some economists with one describing the rise as ‘throwing the US labour market under a bus’.

We report on an Israeli food-tech company that has announced it has managed to produce the world's first ever ready-to-cook fish fillet using 3-d printing technology.

And – just how does the French Finance Minister find the time to write erotic literature with the country facing so much economic upheaval.
(Picture: US Fed Chair Jerome Powell holds a news conference on the latest rate increase - Courtesy, Getty Images)

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Wed 3 May 2023 22:32GMT

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  • Wed 3 May 2023 21:32GMT
  • Wed 3 May 2023 22:32GMT