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Jerome Powell, Chairman, Board of Governors of the Federal Reserve System testifies before the Senate Banking, Housing, and Urban Affairs Committee on June 22, 2022 in Washington, DC.

Another big Fed rate hike is here to battle inflation. Economy hangs in balance

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Updated July 27, 2022 at 2:01 PM ET WASHINGTON, D.C. (NPR) — With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percentage point. This is the fourth time the… Read More