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Federal Open Market Committee

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Business & Lifestyle

Federal Reserve raises interest rate by 0.75%

Federal Reserve Chairman Jerome Powell and members of the Federal Open Markets Committee voted Wednesday to raise the benchmark interest rate by 75 basis points. WASHINGTON (UPI) -- The Federal Reserve raised its benchmark interest rate by 0.75% Wednesday in its latest move to fight the highest inflation in 40 years. The highly anticipated move boosts the federal funds rate to the range of 3% to 3.25% after it remained near zero as recently as March. The Federal Open Market […]

September 21, 2022 24

Consumer Alerts

Federal Reserve keeps interest rates unchanged at near-zero

WASHINGTON (UPI) -- The Federal Reserve on Wednesday held steady on its benchmark lending rate, leaving it near zero and warning that an increase could be coming as the economy rebounds from the COVID-19 pandemic. The Federal Open Market Committee concluded its two-day meeting with a statement saying interest rates will remain at 0% to 0.25%, the same level since March 2020, the beginning of the economic downturn. The statement said the status of the U.S. economy continues to depend […]

September 22, 2021 4

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