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FED Hikes Rates as Expected

Fed announces another 0.75 percentage point increase in interest rates and promises more increases in the future to combat inflation. Since the early 1980s, inflation has been rising and the central bank has been working to reduce it. Fed representatives indicated that they plan to keep raising rates until the funds level reaches a “terminal rate,” or endpoint, of 4.6% in 2023. That suggests no drop but a quarter-point rate increase the next year.