They did this because the economy is in a tailspin!! Thanks Turnip head.
You obviously know nothing other the leftwing spin you so eagerly swallow right up!!
On Wednesday, the Federal Reserve announced a new hike of interest rates for the fourth time this year, this time at 75 basis points (0.75%). The recent interest rate hikes have been part of the central bank's primary effort to quell record-high inflation without sending the broader economy into a recession tailspin.
What Happens When The Fed Raises Interest Rates? - Forbes
https://www.forbes.com › advisor › investing › fed-rais...
Jun 16, 2022 — When the Fed raises the federal funds target rate, the goal is to increase the cost of credit throughout the economy. Higher interest rates make ...
Fed Fights Inflation With Another Big Rate Increase
https://www.nytimes.com › business › fed-interest-rates
22 hours ago — The Fed began raising interest rates from near-zero in March, and policymakers have picked up the pace since. After making a quarter-point move ...
How Fed hikes work and why the Fed uses them to fight inflation
https://www.usatoday.com › markets › 2022/07/25 › fe...
3 days ago — The Fed in June raised interest rates by 0.75 of a percentage point to a range of 1.5% to 1.75%, the biggest hike since 1994, USA TODAY ...
Who wins and who loses when the Fed hikes interest rates?
https://www.npr.org › 2022/06/16 › who-are-the-winners-...
Jun 16, 2022 — In short, interest rates are the Fed's main tool to combat inflation. Inflation is driven by strong consumer demand. By raising interest rates, ...
- The Fed delivers biggest rate hike in decades to fight inflation
https://www.npr.org › federal-reserve-interest-rates-inf
Jun 15, 2022 — The Federal Reserve raised interest rates by three-quarters of a percentage point Wednesday in an effort to combat stubbornly high inflation