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Why the Fed will raise interest rates in 2022, and how soon consumers will feel hikes

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Federal Reserve officials announced Wednesday they are prepared to fight inflation with as many as three rate hikes, starting next spring, in an effort to cool persistently high inflation. Its benchmark rate, which affects borrowing, lending and economic growth, has been near zero since the start of the pandemic in a bid to boost the recovery. Judy Woodruff gets more from economist Julia Coronado.

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Category
U.S. & Canada
Tags
Inflation, Jerome Powell, Powell
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