Federal Reserve chairman Jerome Powell signals his aim to crush inflation by raising interest rates for the third time in a row this year. This increase by 75 basis points augurs even more aggressive hikes ahead than investors had expected. Officials forecast that the rates could reach 4.4% by the end of 2022 and 4.6% in 2023. This means a fourth straight 75 basis-point hike could be on the table for November, just before the US midterm elections. Given Singapore’s heavy reliance on global trade, as well as the US dollar being the global reserve currency, this wave of monetary tightening by the Fed is sure to hit our shores. The question then is what effects will it have on us, and what can we do to stave off the worst? What is the US Fed Rate? US FED rate hikes affects us all in some way or other The US Fed rate is basically the United States Federal Reserve interest rate, which is typically...