Federal Benefits Service

Fed Takes Decisive Action in Inflation Fight, Authorizes Single Biggest Rate Hike Since 1994

In the lead-up to Wednesday’s Federal Open Market Committee rate decision and press conference, the debate was not so much whether they would hike, but by how much—50 basis points (bps, or 0.50%), as Fed Chair Jerome Powell first suggested in May? Or would they be more aggressive, aiming to tighten policy in an effort …

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