The increase, which was expected, marks the first time in 22 years that the central bank has increased rates that much
Federal Reserve raises interest rates by half percentage point, in effort to slow inflation
Updated: May 4, 2022 - 2:13pm
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The Federal Reserve on Wednesday announced the central bank will raising interest rates by a half-percentage point, in attempt to slow the worst inflation in the U.S. in roughly four decades.
The increase, which was expected, marks the first time in 22 years that the central bank has increased rates that much, according to CNN.
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