Federal Reserve hikes key interest rate 0.75 percentage point

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Federal Reserve hikes key interest rate 0.75 percentage point – CBS News

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The Federal Reserve approved a third consecutive 0.75 percentage point hike to its benchmark interest rate Wednesday in an effort to tackle record inflation. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined John Dickerson to discuss the impact of the interest rate hikes on the U.S. economy.

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