BREAKING: Federal Reserve raises key interest rate 0.75% as it works to fight record-high inflation.
. The higher-than-expected inflation reading jostled markets early in the week. On Monday, the S&P 500 officially entered bear market territory.
“Chairman Jerome Powell and his colleagues are walking a monetary policy tightrope hoping to avoid a recession while dampening demand," said Mark Hamrick, senior economic analyst at Bankrate in a note.
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JP Morgan, Goldman economists now expect Fed to raise rates by 75 basis points on WednesdayEconomists at JP Morgan and Goldman Sachs said in client notes Monday that they now expect the Federal Reserve to raise its policy rate by 75 basis points on Wednesday. Or could it even be 100?
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Fed attacks inflation with its largest rate hike since 1994WASHINGTON (AP) — The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.
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Fed Hikes Its Benchmark Interest Rate by 0.75 Percentage Point, the Biggest Increase Since 1994The Federal Reserve is raising interest rates by 3/4 of a percentage point, its biggest hike since 1994, as it seeks to clamp down on inflation.
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Fed hikes interest rates by three-quarters of a percentage point in boldest move since 1994It's the largest rate hike since 1994, and will affect millions of American businesses and households, pushing up the cost of borrowing for homes, cars and other loans in order to force a slowdown in the economy
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