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Here's what the Fed interest rate hike means for you
1 month ago | By WGN TV
NEW YORK - The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive.
The rate increase will likely make it even costlier to borrow for homes, autos and other purchases. But if you have money to save, you'll probably earn a bit more interest on it.
The latest rate increase is smaller than the Fed's half-point rate hike in December and its four straight three-quarter-point increases earlier last year. The slowdown reflects the fact that inflation, while...
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Fed lifts rate by quarter-point but says inflation is easing
1 month ago | By Star Tribune
The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate by a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes.
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The Fed Hikes Rates for 8th Time in a Row
1 month ago | By Newser
This story has been updated with Powell's remarks. The Federal Reserve hiked rates by a quarter point on Wednesday, an expected move in its fight against inflation. It marks the smallest increase since last March, and is down from December's half-point increase. CNBC reports it marks the 8th hike in...
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Fed lifts rate by quarter-point and signals more hikes ahead
1 month ago | By Boston Herald
WASHINGTON - The Federal Reserve extended its fight against high inflation, raising its key interest rate by a quarter-point, its eighth hike since March.
The central bank also signaled that even though inflation is easing, it remains high enough to require further rate hikes.
“We will need substantially more evidence to be confident that inflation is on a long, sustained downward path, said Chair Jerome Powell at a news conference. “It would be very premature to declare victory or think that we really got this. We have to complete the job.”
Powell said the Fed recognizes that the pace of...
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The Fed raises interest rates by one quarter of a percentage point and says there's more to come
1 month ago | By Fortune
The hike is lower than recent previous increases.
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Fed raises key interest rate by 0.25 points, slowing pace of hikes
1 month ago | By New York Post
The Fed is aiming to bring down prices without steering the US economy into a recession.
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The Fed raises interest rates by only a quarter-point after inflation drops
1 month ago | By NPR
The Federal Reserve raised interest rates by a quarter-percentage point as part of its ongoing effort to fight inflation. Price hikes have begun to ease, but the Fed says inflation is not yet tamed. (Image credit: Mandel Ngan/AFP via Getty Images)
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