The US Federal Reserve has raised interest rates by 25 basis points to check inflation. The Fed is aiming to bring inflation under 2 per cent and for that it has resorted to the fastest rate hikes in history, with ten increases since March 2023.<br />''<br />''Despite the repeated rate hikes, inflation has not come down sharply. In March, inflation slowed to 5 per cent – which was still well above the Fed's target.<br />''<br />''Fed, in the last meeting on March 22, hiked interest rates by 25 basis points and said that its rate-setting panel sought "to achieve maximum employment and inflation at the rate of 2 per cent over the longer run".<br />