Fed raises interest rates by half-point, the most since 2000
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The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by a sizable half-percentage point.
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On Wednesday, the Federal Reserve increased its benchmark interest rate by half a percentage point, the largest since 2000, in response to 40-year record high inflation pressures.In a statement released
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
The Federal Reserve said on Wednesday that it would raise interest rates by a half point for the first time in two decades as policymakers ramp up their fight to cool red-hot inflation, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans.
The Federal Reserve announced its most aggressive interest rate hike in more than two decades and said it would shrink its balance sheet in response to the excruciating inflation afflicting the economy.
The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by a sizable half-percentage point.
With inflation surging to a 40-year high, the Federal Reserve is expected to raise its benchmark short-term interest rate with the sharpest rate hike since 2000.
The Federal Reserve on Wednesday raised its benchmark interest rate target by half a percentage point, the biggest increase since May 2000. The Federal | Economy
The Fed is likely to raise interest rates by a half-percentage point Wednesday, in an effort to crack down on inflation. It's the first rate hike of that size in more than two decades.
The Federal Reserve raised a key interest by half a point on Wednesday to combat soaring inflation, which has hit the paychecks of American workers and bedeviled Democrats and the White House ahead of the November midterms.
The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.
The central bank has announced a 0.5% interest rate hike — its highest increase in more than 20 years. The US move comes as a number of other countries cut lending rates to deal with rising prices.
The Fed is expected to raise interest rates this week with the biggest jump in more than 20 years as the central bank tries to get control of historic inflation.
CNN, CNNBUSINESS By Anneken Tappe, CNN Business The Federal Reserve said Wednesday it is raising interest rates by a half-percentage point to get a handle on the worst inflation America has seen in 40 years. It’s the first time in 22 years that the central bank has hiked rates this much.
(CNN) -- The Federal Reserve said Wednesday it is raising interest rates by a half-percentage point to get a handle on the worst inflation America has seen in 40 years. It's the first time in 22 years that the central bank has hiked rates this much.
