Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 4, 2022 in Washington, DC. Win McNamee | Getty Images The Federal Reserve looks set to raise its benchmark rate again today, and may even hand out the first three-quarter-point hike in 28 years. The central
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The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of
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It is turnaround Thursday as markets are switching back the other way after the sigh of relief following the Fed decision yesterday. There was a lot of angst in the buildup to the FOMC meeting, so once that was over and done with it seems like markets were just glad to get over the hump.
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