Fed Again Hikes Key Interest Rate ; 8th Raise in 10 Months Comes Amid Slowing Economy, Inflation Fears
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WASHINGTON The Federal Reserve, caught between a sudden economic slowdown and heightened worries about inflation, decided to nudge a key interest rate up by another quarter-point Tuesday.
The move, which had been widely expected by financial markets, pushed the federal funds rate up to 3 percent. It was the eighth increase in the interest that banks charge each other on overnight loans since the central bank began its credit tightening campaign last June.See the full content of this document
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Fed Again Hikes Key Interest Rate ; 8th Raise in 10 Months Comes Amid Slowing Economy, Inflation Fears
The Fed also retained a promise it has been making for the past year to move rates up "at a pace that is likely to be measured," a phrase that mark...
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