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Fed unleashes another big rate hike in bid to curb inflation

74 views – Associated Press – 2022-07-27 13:40:22

WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.

The Fed’s move will raise its key rate, which affects many consumer and business loans, to a range of 2.25% to 2.5%, its highest level since 2018.

The central bank’s decision…

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