Fed implements highest interest rate hike in decades
Clip: 6/15/2022 | 5m 36sVideo has Closed Captions
Federal Reserve implements highest interest rate hike in decades to combat inflation
The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome Powell acknowledged the ongoing rate hikes might slow growth later this year, as the Fed projected unemployment would rise to 4 percent by 2024. Paul Solman reports.
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...
Fed implements highest interest rate hike in decades
Clip: 6/15/2022 | 5m 36sVideo has Closed Captions
The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome Powell acknowledged the ongoing rate hikes might slow growth later this year, as the Fed projected unemployment would rise to 4 percent by 2024. Paul Solman reports.
Problems playing video? | Closed Captioning Feedback
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