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Federal
Reserve: Interest rates hiked again
New York: The US Federal Reserve has raised interest rates on Tuesday
for an eighth straight time, acknowledging mounting inflation pressures. However,
it has expressed confidence that it can contain them with "measured"
increases.
The
US central bank's policy-setting Federal Open Market Committee unanimously
voted to lift the benchmark federal funds rate - which affects credit costs
throughout the economy - by a quarter-percentage point to 3 per cent.
The
Fed said spending has slowed in the face of higher energy
prices but that the job market is improving.
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