The Federal Reserve on Wednesday hiked interest rates by three quarters of a percentage point, its most aggressive move yet to try to control inflation, as it squeezes the U.S. economy.
For weeks, Fed leaders set expectations for an increase of half a percentage point, as it did in May, in the latest of seven rate increases slated for this year. But a surprisingly bleak inflation report released last week, the war in Ukraine plus growing signs that the markets and American public have lost faith in the Fed, ignited a more forceful push from central bank policymakers as they wrapped up two days of meetings. The Fed has not enacted a hike of this size since 1994, but signaled similarly-large hikes are coming later this year.
Folks don't realize that the interest rate being at 0% for years is why when the pandemic hit along with supply chain issues is why inflation is high. The basic education system of how economics work is beyond low in America. Just wait until the Republicans take control again. If you think Bush years we terrible these folks waiting on free handouts will learn. Oh yeah that tough on crime Republican party members want is lifetime prison sentences so y'all want knock up their white daughters too .