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Fed Goes 75 Once Again With More to Come

09/21/2022

This afternoon as expected the FOMC raised the overnight funds rate by 75 basis points, bringing the target range to 3.00% – 3.25%, the highest since early 2008. In just over six months, Fed officials have now increased the key lending rate by a total of 300 bps, while indicating ongoing rate hikes are appropriate.

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