Federal Reserve Raises Key Rate for 11th Time, to the Highest Level Since 2001, in Bid To Curb Stubborn Inflation
The central bank’s chairman touts prospects for a ‘soft landing,’ noting that ‘the resilience of the economy recently’ means Fed economists ‘are no longer forecasting a recession.’
WASHINGTON — The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession.
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