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Federal Reserve Raises Interest Rates for 10th Consecutive Time


May 3, 2023
Federal Reserve Board Chairman Jerome Powell delivers remarks at a news conference following a Federal Open Market Committee meeting on May 3. (Getty Images)

As broadly expected, the Federal Reserve’s policy-making committee voted to boost its target rate by another 25 basis points on Wednesday, the 10th consecutive rate increase since embarking on its most aggressive monetary tightening program in 40 years.

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