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Federal Reserve implements largest interest rate hike since 2000

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The Federal Reserve raised interest rates again Wednesday in an effort to stamp down surging inflation. It increased rates by a half-percentage point, a move that will affect the pocketbooks of millions of Americans. Fed Chair Jerome Powell said more hikes are planned for this year. The Fed has changed course considerably while trying to avoid triggering a recession. Paul Solman reports.

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Category
U.S. & Canada
Tags
consumer prices, federal reserve, inflation
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