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Fed Hikes Rates Again, Raising Risk of Recession To Bring Inflation Under Control

Central Bank Moves Aggressively After Price Increases Reach 40-Year High
Federal Reserve Board Chairman Jerome Powell looks at notes while speaking during a news conference after Wednesday's meeting of the Federal Open Market Committee. (Getty Images)
Federal Reserve Board Chairman Jerome Powell looks at notes while speaking during a news conference after Wednesday's meeting of the Federal Open Market Committee. (Getty Images)
CoStar Analytics
September 21, 2022 | 8:17 P.M.

For the third time in as many meetings, the Federal Reserve's policy-setting committee raised its target lending rate by three-quarters of a percentage point, the latest step in its aggressive campaign to battle decades-high inflation.

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