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The Guardian - US
The Guardian - US
Business
Dominic Rushe

Fed announces another three-quarter-point increase in interest rates

Interest Rates United States Economy Inflation Recession Janet Yellen Joe Biden
A screen at the New York Stock Exchange anticipated the Fed’s move on Wednesday morning.
A screen at the New York Stock Exchange anticipated the Fed’s move on Wednesday morning. Photograph: Seth Wenig/AP

With the US economy teetering on the edge of a recession and inflation running at a four-decade high, the Federal Reserve announced another three-quarter of a percentage point increase in its benchmark interest rates on Wednesday, the second such increase in just over a month.

In a statement, the Fed said it was “highly attentive to inflation risks”.

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