Fed Issues Another 0.75-Point Rate Hike

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On Wednesday, the Federal Reserve Board raised its target federal funds rate by 0.75 of a percentage point. It is the second consecutive increase of that size — which had been the largest increase since 1994. The latest hike — which brings the target rate to a range of 2.25% to 2.5% — is the fourth so far this year but is not expected to be the last. In fact, multiple additional rate hikes are…

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