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US interest rate hike takes toll on economic growth | DW News
Posted
November 3, 2022
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November 3, 2022
36,747
321
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6:13Now PlayingThe US Federal Reserve has again raised its key interest rate by three quarters of a percentage point -- to 3.75%.
It's the latest in a stream of aggressive rates hikes aimed at bringing inflation under control. US prices are rising at a rate not seen since the 1980s. Fed chairman Jerome Powell says even more rate hikes are likely - and that will take its toll on economic growth.
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