Fed announces sixth consecutive hike in US interest rates to fight inflation

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Fed officials have now imposed the sharpest increases in interest rates since the 1980s, as the cost of living crisis batters consumersThe Federal Reserve stepped up its fight against a 40-year high in US inflation on Wednesday, announcing its fourth consecutive three-quarters of a percentage point hike in interest rates.With the cost of living crisis battering consumers and Joe Biden’s political fortunes, Fed officials have now imposed six rate rises in a row, the sharpest increases in interest rates since the 1980s, when inflation touched 14% and rates rose to nearly 20%. Continue reading. ...

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