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Fed Ramps Up Inflation Fight in Economy Tough Enough to Cope

  • Fed raises rates a quarter point and signals more hikes ahead
  • ‘Acutely aware’ of need to restore price stability: Fed chair
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WATCH: Fed Chair Jerome Powell speaks about the decision to raise its benchmark interest rate by a quarter percentage point.Source: Bloomberg
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The Federal Reserve kicked off a campaign of interest rate hikes that’s set to be the most aggressive since the mid-2000s, as Chair Jerome Powell assured Americans that the fight against inflation won’t tip the U.S. economy into recession.