The Federal Reserve on Wednesday raised interest rates by 0.75% as the central bank attempts to avoid a deep recession.
The decision to move by 0.75% matched the magnitude of the Fed’s last move in June, which was its largest single-meeting rate increase since 1994. Wednesday’s decision was unanimously agreed upon by voting members of the Federal Open Market Committee.
The Fed has now moved in four consecutive meetings to increase borrowing costs in America, extending its effort to dampen…
Source link
