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Fed Official Supports Raising Interest Rates at Fast Clip ‘for Several Meetings’
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A Federal Reserve official said Monday he would support raising interest rates in half-percentage-point increments for several more meetings, adding to a growing debate over how far and fast the central bank should push up borrowing costs to combat high inflation.
The U.S. central bank raised interest rates by a half percentage point, or 50 basis points, on May 4, the first half-point increase since 2000. Officials have signaled similar moves are very likely at their next two meetings, in June and July.
Read more on wsj.comAbout this in other media
Investors See Higher Defaults Ahead as Interest Rates, Inflation Take a Toll wsj.com /1 year ago
Why are central banks pushing to raise interest rates? theguardian.com /1 year ago
The Fed, Spurred by Inflation, Raises Rates and Promises More wsj.com /1 year ago
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