Fed unleashes another big rate hike in bid to curb inflation
Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee, as he presents the Monetary Policy Report to the committee on Capitol Hill, on June 22, 2022, in Washington. With inflation raging at a four-decade high and the job market strong, the Fed is under pressure to raise interest rates aggressively. (AP Photo/Manuel Balce Ceneta, File)
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON — 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....
Become a Subscriber!
You have read all of your free articles this month. Select a plan below to start your subscription today.
Already a subscriber? Login
