Fed hikes rates by 75 basis points, the biggest increase since 1994

Slammed by critics for not anticipating the fastest price gains in four decades and then for being too slow to respond to it, Chairman Jerome Powell and colleagues on Wednesday intensified their effort to cool prices by lifting the target range for the federal funds rate to 1.5% to 1.75%.

from Stocks-Markets-Economic Times https://ift.tt/AedQ1St