The Fed pauses its rate-hiking campaign, announcing no new increase | CNN Business

Since March 2022, Fed officials have raised the central bank’s benchmark interest rate 10 times in a row in an attempt to cool the US economy and battle inflation that is still double the Fed’s target.

Fed officials have voted to increase the central bank’s benchmark interest rate 10 times in a row since March 2022 in an attempt to cool the US economy and battle inflation that is still more than double the Fed’s target. This story is developing and will be updated.

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