BREAKING NEWS: Fed raises interest rates by a quarter point but signals inflation fight's not over
The Wall Street Journal senior writer Jon Hilsenrath discusses expectations for the Fed's next interest rate decision on 'The Claman Countdown.'on Wednesday raised its benchmark interest rate by a quarter of a point, further slowing its aggressive campaign to cool the economy amid growing evidence that stubbornly high inflation is finally starting to ease.
The widely expected move puts the key benchmark federal funds rate at a range of 4.5% to 4.75%, the highest since 2007, from near-zero in March. It marks the eighth consecutive rate increase and places interest rates in firmly restrictive territory.
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