By now, you should have seen the headlines. The Federal Reserve has raised US interest rates by another 0.75% and vowed to keep hiking rates for longer. Need a quick lowdown on what’s happening? We’ve got you covered.

1. The September rate hike
2. Will interest rates continue to rise?
3. The Fed dot plot, explained
4. Is a recession coming?
5. Why did the stock market fall?
6. How will Singaporeans be affected by the rate hikes?

1. Another jumbo rate hike

On Wednesday, the Federal Open Market Committee (FOMC) raised benchmark interest rates (also known as the federal funds rate) by another 0.75%, its third straight rate hike of this magnitude. The move is intended to combat inflation, which is now at a 40-year high in the US and running at more than three times the Fed’s 2% inflation target. The Fed’s benchmark interest rate – which is what banks charge each other for overnight loans – is now...