Fed attacks inflation with its largest rate hike since 1994

Photo caption: FILE – Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, May 4, 2022 in Washington. […] Photo credit: AP Photo / Alex Brandon, File. Article by Christopher Rugaber. AP News – June 15, 2022.

WASHINGTON (AP) — The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession. […]

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