Javier David, a managing editor of business and markets for Axios and a CBS News contributor, joins Lana Zak and Elaine Quijano as the Federal Reserve announces it is raising rates for the eighth time over the course of a year. He explains why the central bank decided on the quarter-point increase and what it means for the U.S. economy.
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The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. […]
