11/03/2022
The Federal Reserve again hiked interest rates by 75 basis points, the fourth consecutive increase of that magnitude. The central bank on Wednesday lifted its target for the benchmark federal funds rate to a range of 3.75% to 4% — the highest level since 2008 — as it seeks to douse the hottest inflation in more than four decades. Policymakers added in a statement, however, that they would “take into account the cumulative tightening of monetary policy,” in considering further rate hikes.
