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Fed Raises Interest Rate by Another 0.25%, Dismissing Unemployment Concerns

HeadlineMar 23, 2023

The U.S. central bank has raised interest rates by another quarter of a percent. It’s the eighth time in a row the Federal Reserve has raised the cost of borrowing, even though the Fed’s own forecasts show the hikes could cost 2 million people their jobs. Massachusetts Democratic Senator Elizabeth Warren blasted Fed Chair Jerome Powell’s decision, tweeting, “I’ve warned for months that the Fed’s current path risks throwing millions of Americans out of work. We have many tools to fight inflation without pushing the economy off a cliff.”

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