The Federal Reserve raised short-term interest rates Wednesday by a half percentage point, slowing down its pace of rate hikes from this summer’s torrid clip.
The rate hike brings the Fed’s benchmark policy rate, the federal funds rate, to a new range of 4.25%-4.5%, the highest level since December 2007.
Wednesday’s 50 basis point rate hike comes after the Fed raised rates by 75 basis points at each of the past four policy meetings — its most aggressive stretch since the 1980s.
“Recent…
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