News From Press Fed raises rates by 75 bps to tame inflation, flags weakening economic data

Fed raises rates by 75 bps to tame inflation, flags weakening economic data

Source: BS Jul 28, 2022

Federal Reserve officials raised interest rates by 75 basis points for the second straight month and Chair Jerome Powell left the same move again on the table for the next meeting in September, depending on how the data comes in.

Policy makers, facing the hottest cost pressures in 40 years, lifted the target for the federal funds rate on Wednesday to a range of 2.25% to 2.5%.

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