Fed Hikes Key Interest Rate 75 Basis Points

The Federal Reserve continued its campaign to tame inflation by approving a third consecutive three-quarters of a percentage point interest rate increase and signaling more hikes were likely coming at the two remaining monetary policy meetings this year. Officials agreed Wednesday to lift the benchmark federal-funds rate to a range between three percent and 3.25 percent, the highest since 2008. Investors had expected a 75 basis point raise, although markets indicated an outside chance of an even

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