Fed. Reserve maintains interest rates after 10 straight hikes to combat inflation
1 year ago
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The Federal Reserve Bank on Wednesday maintained interest rates at the range of 5%-5.25% after having raised rates 10 times straight in an effort to combat inflation. The Fed said it may raise interest rates again this year, as inflation showed an increase in May of 4% compared to what it was a year ago at this time, which is twice the target rate.
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