Bidenflation Soars: Feds Raise Rates To Highest Level In 15 Years
View Source | December 14, 2022 3:01 pm
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- The Federal Reserve continued its battle against inflation by raising its benchmark interest rate to the highest level in 15 years.
- The Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%.
- Along with the increase came an indication that officials expect to keep rates higher through next year, with no reductions until 2024.
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