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Year-on-year inflation bottomed at 5% in December 1976 before moving higher once again. Paul Volcker was chosen as Fed Chairman in 1979 in order to deal with the challenge of high inflation. In a rare Saturday press conference on October 6, 1979, [6] Paul Volcker's federal reserve increased the Fed Funds rate from 11% to 12%. [7]
The Federal Reserve's move Wednesday to raise its key rate by a half-point brought it to a range of 4.25% to 4.5%, the highest level in 14 years. The Fed's latest increase — its seventh rate ...
FILE - Federal Reserve chairman Jerome Powell appears on a monitor on the floor of the New York Stock Exchange in New York, Wednesday, Nov. 2, 2022.
The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time but hinted that it could soon reduce the size of its rate hikes. The Fed ...
In a move that was widely anticipated -- especially since Chair Jerome Powell's Brooking Institute speech last month -- the Federal Reserve unanimously said it will raise interest rates by half a...
The unemployment rate has risen modestly since the Fed began aggressively raising rates in March of 2022, but at 4.2% remains below the national long-run average and right at the level the median ...
The Fed now sees the unemployment rate ending 2022 at 3.5%, a sharp improvement over the Fed’s September projection of 3.8%. The FOMC statement says Omicron and other new variants remain risks ...
Another quarter-point rate increase on Wednesday would leave the Fed's key rate at 5.1% — a 16-year high and a full 5 percentage points higher than in March 2022.