Federal Reserve expected to hike interest rates for fifth time this year to quell inflation – CBS News
While the cost of groceries and rent are still rising, the Federal Reserve is expected to hike interest rates again today in an effort to quell high inflation. Nancy Cordes reports from the White House.
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U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, July 27, 2022 in Washington, DC. Drew Angerer | Getty The Federal Reserve will raise interest rates as high as 4.6% in 2023 before the central bank stops its fight against […]