Federal Reserve raises interest rates by 0.75%, most since 1994, amid effort to slow inflation
The central bank messaged that further interest rate hikes will come this year, as the Fed leans on higher borrowing costs to dampen demand and work to slow faster-than-expected inflation.
The Fed decision lifts short-term borrowing costs to a target range between 1.50% and 1.75%.
https://finance.yahoo.com/news/fed-fomc-monetary-policy-decision-june-2022-120337242.html