Federal Reserve officials, struggling to contain the fastest inflation in 40 years, made a third big rate hike on Wednesday and forecast a more aggressive path for monetary policy, one that would raise interest rates. interest and keep them high longer.
The Fed raised its key rate by three-quarters of a percentage point, bringing it to a range of 3% to 3.25%. That’s a significant jump from last March, when the federal funds rate was pegged near zero, and increases since then have enabled the Fed’s fastest policy adjustment since the 1980s.
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