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Year: 2022

Fed hikes interest rates by three-quarters of a percentage point in boldest move since 1994

CNN, POOL By Nicole Goodkind, CNN Business The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday in an aggressive move to tackle white-hot inflation that is plaguing the economy, frustrating consumers and stifling the Biden administration. It’s the largest rate hike since 1994, and will affect millions of American businesses

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