The Fed Raised Interest Rates by 0.75%, The Biggest Single Increase Since 1994

Published on June 15, 2022

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The Federal Reserve took its most aggressive step yet to try to tame rapid and persistent inflation, raising interest rates by three-quarters of a percentage point on June 15 and signaling that it is prepared to inflict economic pain to get prices under control.

The rate increase was the central bank’s biggest since 1994 and could be followed by a similarly sized move next month.

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