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Reason
Reason
Elizabeth Nolan Brown

FORGOTTEN HISTORY: Recession virtual certainty as interest rates spike | History Defined

Jerome Powell Interest Rates Recession US Federal Reserve Inflation Michael Novogratz United States Moody Analytics Oxfam Reason

Interest rates are now 1.5 percentage points higher than they were a few months ago. On Wednesday, the Federal Reserve raised interest rates by three-quarters of a percentage point, following a 0.5 percentage point increase in May and a 0.25 percentage point increase in April.

Yesterday's rate increase is the single biggest interest rate hike since 1994.

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