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Fed raises interest rates by 25 basis points in smallest hike since March

Summary by The Hill
The Federal Reserve raised interest rates by 0.25 percentage points on Wednesday at its first meeting of the year, its eighth straight rate hike since it began a program of tightening borrowing costs last year in an effort to bring down inflation.

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WNYT NewsChannel 13 broke the news in on Tuesday, January 31, 2023.
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