Fed announces largest interest rate hike since 1994 in effort to tame inflation

THIS IS ALL IN RESPONSE TO INFLATION SURGING THROUGH THE ROOF, AS AMERICANSUT C COSTS TO MAKE ENDS MEET. <BU-70:1 (0-21 “WE AT THE FED UNDERSTAND THE HARDSHIP THAT HIGH INFLATION IS CAUSING. WE’RE STRONGLY COMMITTED TO BRINGING INFLATION BACK DOWN AND WE’RE MOVING EXPEDITIOUSLY TOO DSO.”> INTEREST RATES GO UP.. WI TTHHE HOPE THAT PRICES COME DOWN. THE FEDERAL RESERVE HIKED INTEREST RATES THREE QUARTERS OF A POINT.. BRINGING IT TO A RANGE OF áONE- POINT-FIVEá TO áONE-POI-SNTEVEN- FIVEá PERCENT. <FEDRESERVEPOWELLPRESSER (2:22-2:30) THE AMERIC AN ECONOMY IS VERY STRONGND A WELL POSITIONED TO HANE DL TIGHTER MONETARY POLICY”> FROM GAS TO GROCERIES.. COSTS ARE LEAVG IN NSCOUMERS SCRAMBLING FOR SOLUTIONS. THE IDEA BEHIND DRIVING INTEREST RATES UP.. IS THE HOPE THAT IT WILL SLOW THE ECONOMY, CREATE A DROP IN DEMAND, IN TURN, LOWERING PRICES. BUT SOME FEAR IT POSES T HE RISK OF SEINNDG THE ECONOMY INTO A DESPERATE DOWNFALL. <DAY 0615 0:44-0:52 THE REAL RISK IS YOU’RE GOING TO SEE A LOT MORE WEAKNESS IN THE STOCK MARKET AND YOU’RE GOING TO SEE THE ECONOMYO G IN ATO RECESSION.> STOCKS SEEING SOME RELIEF.. CLOSING UP WEDNESDAY. BUT FINCNAIAL EXPERTS SAY YOU CAN STILL TAKE STEPS TO KEEP MONEY IN THE NKBA. <PY-11TU 1:15-1:28 “IF YOU’RE SOMEBODY OUT THERE LIVING PAYCHECK TO PAYCHECK OR YOU DONT HAVE AN EMERGENCY FUND OR YOU’RE NOT FUNDING A RETIREMENT ACCOUNT, YOU SHOULD STOP GOING OUT TO EAT, INGOG ON VACATION AND DOING ALL THOSE THINGS.> THE FED ATTRIBUTED PRICE PROBLEMS AND ECONOMIC INSTABILITY TO THE WARN I UKRAINE, AND COVID RELATED LOCKDOWNS IN CHINA. AND IT MIGHT NOT BE THE EN

Fed announces largest interest rate hike since 1994 in effort to tame inflation

Updated: 10:37 PM EDT Jun 15, 2022

The Federal Reserve announced the largest interest rate hike since 1994 in an effort to tame inflation.

The Federal Reserve announced the largest interest rate hike since 1994 in an effort to tame inflation.