Planning Briefs
In A Major Turning Point, The Federal Reserve Hiked Rates Today
Published Wednesday, March 16, 2022 at: 7:31 PM EDT
The central bank of the United States today said it would hike the interest rate at which it lends money to banks by a quarter point and indicated it would raise rates a quarter of 1% six more times in 2022. The move by the Federal Reserve was expected for months. In reaction to the news, stocks closed sharply higher, with the Standard & Poor’s 500 gaining 2.2% for the day. The Federal Reserve is planning to raise rates gradually to snuff out inflation, which, over the past 12 months, surged at the highest rate in 40 years. However, the campaign to...
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