Federal Reserve raises interest rates by 75 basis points for third straight month
Central bank continues its inflation-fighting campaign with another big rate hike
By Megan Henney September 21, 2022 2:00pm EDT
FTA
The Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points for the third straight month as it tries to bring scorching-hot inflation under control, a move that threatens to slow U.S. economic growth and exacerbate financial pain for millions of households and businesses.
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https://www.foxbusiness.com/economy/fed-meeting-interest-rate-hike-jerome-powell
WASHINGTON, Sept 21 (Reuters) - The Federal Reserve’s aggressive drive to bring inflation down to its 2% target will take years to complete and come at a cost of notably higher unemployment and slower economic growth, according to projections from policymakers published on Wednesday that cast doubt on prospects for a so-called “soft landing.”