Fed hikes rates by 75 basis points for first time since 1994
Fed hikes rates by 75 basis points, the biggest increase since 1994
The Federal Open Market Committee “anticipates that ongoing increases in the target range will be appropriate,” it said in a statement Wednesday after a two-day meeting in Washington. “The committee is strongly committed to returning inflation to its 2% objective.”
Fed rolls out biggest rate hike since 1994, flags slowing economy
The Federal Reserve approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands.
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