After lowering the price of money to almost zero at the end of 2008 to face the acute financial crisis, the Federal Reserve (Fed) of the United States continued today its gradual monetary normalization cycle with a new rise in interest rates, the fourth of 2018.
With the rise of today, the price of money in the US was between 2.25% and 2.50%, which is at levels not seen in more than a decade in the world's leading economy.
The Fed maintained the exceptional monetary stimulus for almost eight years, at the same time launching an aggressive debt purchase plan, under the baton of Ben Bernanke (2006-2014).
In just over a year, the body led by Bernanke was forced to lower interest rates from 4.75% in September 2007 to practically zero by the end of 2008.
Given the severity of the crisis and the subsequent recession, interest rates remained at historic lows until the end of 2015, when the US central bank, led by Janet Yellen (2014-2018), decided to raise them for the first time to the range of 0 , 25% and 0.50%.
Throughout 2016, the central bank with great caution once again raised the price of money, leaving it between 0.50% and 0.75%.
Since then, the Fed has taken a path of progressive monetary adjustment, accompanying the remarkable improvement of the US economy, which has remained with Yellen's successor, Jerome Powell, appointed by the current US President, Donald Trump.
In 2017, it carried out three additional hikes, up to the range between 1.25% and 1.50%; and in 2018, with today's, four more increases to 2.25% and 2.50%.
The last time interest rates in the US have been at this level was in March 2008.