Fed hikes rates by 0.75 percentage point, biggest increase since 1994
The Federal Reserve approved the largest hike to its benchmark interest rate since 1994 on Wednesday as officials frantically seek to tamp down the decades-high inflation hitting household budgets.
Fed likely to boost interest rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well.
Fed government revises first-quarter GDP, contraction worse than originally estimated
The Commerce Department has revised its first-quarter real gross domestic estimate to show the U.S. economy contracted at an annualized rate of 1.5%, compared to its original estimate in late April of 1.4%.
Inflation surges higher-than-expected 8.3% in April, near 40-year record
Inflation surged a higher-than-expected 8.3% in April, staying near its steepest level in decades as the Federal Reserve scrambles to cool the economy with a series of rate hikes that have rattled investors.
Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation
The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point as the most aggressive step yet in its battle against generational highs in inflation.
Anxious Fed set for historic measure to try to curb inflation
The Federal Reserve is set to take its most aggressive action in decades to rein in inflation when it meets this week — a move that would have implications for the entire economy.
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