US Federal Reserve chair Jerome Powell sees a "narrow path" in dodging recession delivering another big interest rate rise

Just days after official interest rates went up yet again here in Australia, they're also on the rise in the United States  - and it's been another sharp increase.

The Federal Reserve has hiked rates by another 0.75 percentage points - the fourth straight increase of that size - and with inflation still at forty year highs, there's more to come.

Here's the Fed's statement

For analysis I spoke on ABC Newsradio with Thomas Oriti