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To tame inflation, Fed raises key interest rate
2 monthes ago | By Arizona Daily Star
The Federal Reserve intensified its driveto curb the worst inflation in 40 years by raising its benchmark short-term interest rate by a sizable half-percentage point. The half-point hike in the Fed's key rate - its largest since 2000 - raised...
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Ticker: Fed hikes key rate by a half-point; CVS raises outlook for 2022
2 monthes ago | By Boston Herald
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday - its most aggressive move since 2000 - and signaling further large rate hikes to come.
The increase in the Fed's key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago. The Fed also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds.
In their statement Wednesday, the central bank's policymakers said...
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