Fed plans to raise rates as soon as March to cool inflation
Federal Reserve Board Chairman Jerome Powell listens during his re-nominations hearing before the Senate Banking, Housing and Urban Affairs Committee, Tuesday, Jan. 11, 2022, on Capitol Hill in Washington. (Brendan Smialowski/Pool via AP)
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON — The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation....
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