homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

September 22, 2022

Fed attacks inflation with another big hike

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession.

The Fed's move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.