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.”
US Fed Announces Biggest Interest Rate Hike Since 1994
The Fed's policy-setting Federal Open Market Committee reaffirmed that it remains "strongly committed to returning inflation to its 2 percent objective" and expects to continue to raise the key rate
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.
U.S. central bank hikes interest rate by biggest amount since 1994 | CBC News
The Federal Reserve has raised its benchmark interest rate by 75 basis points to a range of up to 1.75 per cent, its most aggressive hike in almost 27 years as the U.S. central bank scrambles to rein in runaway inflation.