Here are any other big hikes in the Fed rate to tackle inflation.
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With prices rising, the Federal Reserve is intensifying its fight against inflation.
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On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percent for the fourth time in this year.
This follows an increase of similar size in June – a rate increase in this speed and magnitude has not occurred since the late 1980s.
The central bank aims to cut back on its task of controlling inflation without triggering a recession.
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The labor marketplace is extremely tight, and inflation is very excessive
He and his colleagues are trying to fight inflation through demand-tackling
They are raising the cost of credit
Inflation in June rose by 9.1% compared to a year ago
The Fed is dealing with a problem that is beyond its control.