Fed lifts rates by half point, starts balance sheet reduction June 1

Photo caption: Traders work as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen at the New York Stock Exchange (NYSE) in New York City, U.S., March 16, 2022. Photo credit: Reuters / Brendan McDermid  // File Photo. Article by Howard Schneider and Ann Saphir. Reuters – May 4, 2022.

WASHINGTON, May 4 (Reuters) – The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and the U.S. central bank’s chief made an appeal to Americans struggling with high inflation to be patient while officials take the hard measures to bring it under control. […]

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