To fight Sky-High Inflation, the Federal Reserve Just Raised Interest Rates Three Times Faster Than Usual — And the Most Since 1994
This story originally appeared on Business Insider The Federal Reserve escalated its fight against inflation again on Wednesday, passing the largest one-time rate increase since 1994. Alex Brandon/AP Photo via BI The central bank lifted its benchmark interest rate by 0.75 percentage points following the conclusion of its June policy meeting. The rate’s range now…