Federal Reserve hikes key interest rate 0.75 percentage point

Fed hikes key rate by 0.75 percentage points – CBS News

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The Federal Reserve on Wednesday approved a third straight hike of 0.75 percentage point in its benchmark interest rate in response to record inflation. The New York Times’ Fed and economics reporter Jenna Smilek joins John Dixon to discuss the impact of rate hikes on the U.S. economy.

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