The Fed Unleashes Another Big Rate Hike But Hints At A Pullback
The Fed’s move raised its benchmark short-term interest rate to a range of 3.75% to 4%, the highest level in 15 years. It was the central bank’s sixth rate hike this year — a streak that has made mortgages and other consumer and business loans increasingly expensive and raised the risk of a recession. In a statement after its last meeting, the Fed said that in the coming months it will consider the cumulative impact of large interest rate hikes on the economy....