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The Federal Reserve raised its key interest rate by three-quarters of a point Wednesday-- the largest bump since 1994 -- as it tries to chill the U.S. economy without causing a recession.
Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it.
The Federal Reserve raised its key interest rate by three-quarters of a point Wednesday-- the largest bump since 1994 -- as it tries to chill the U.S. economy without causing a recession.
Friday’s inflation report leaves the Federal Reserve promising to do whatever it takes to curb inflation. Wednesday’s rate hike – three-quarters of a point – is the steepest since 1994, increasing the likelihood of recession, say analysts.
Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it