The Federal Reserve hiked interest rates by by three-quarters of a percentage point to try and contain inflation. Summary The Federal Reserve hiked interest rates by three-quarters of a percentage point to try and contain inflation. The central bank’s benchmark federal-funds rate will now range between 1.5 percent and 1.75 percent, pushing the mortgage rate to its highest level since 2008. The 75-basis-point jump is the sharpest rate increase since 1994 as the Fed works to “play catch-up” with an …
Tag: Federal Reserve
Prices rose 7 percent in December, the fastest inflation pace in 40 years. Summary The consumer-price index, the government measurement that tracks the prices of goods and services, increased 7 percent in December 2021 compared to …