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HomeAll Ch00 Ch00 NewsFederal Reserve raises rates by half percentage point, signaling slowing of rate...

Federal Reserve raises rates by half percentage point, signaling slowing of rate hikes

Fed has been aggressive in rate hikes in effort to tame inflation.

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he Federal Reserve on Wednesday announced a reduced but still notable hike in U.S. interest rates, with the central bank moving to hike rates by half a percentage point as part of its ongoing efforts to tamp down inflation.

The hike, which comprises 50 basis points, is less than the three-quarter-point hikes the bank has enacted every month for the last several months, though it still represents a significant raise at a time when the economy remains fragile after years of turmoil and unertainty.

The bank indicated that it may raise rates again in the near future if it deems those measures appropriate. 

“The [Federal Open Market Committee] anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time,” the Fed said in a press release. 

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