Fed Delivers 7th Quarter-Point Rate Hike# Living
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WASHINGTON (AP) -- The Federal Reserve on Tuesday pushed a key interest rate
up by a quarter-point to 2.75 percent as it continued its campaign to
gradually nudge rates high enough to make sure that a rebounding economy does
not trigger unwanted inflation.
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The increase in the federal funds rate, the interest that banks charge each
other, marked the seventh time the central bank has pushed rates higher since
it started its current credit tightening campaign last June. At that tim
up by a quarter-point to 2.75 percent as it continued its campaign to
gradually nudge rates high enough to make sure that a rebounding economy does
not trigger unwanted inflation.
ADVERTISEMENT
The increase in the federal funds rate, the interest that banks charge each
other, marked the seventh time the central bank has pushed rates higher since
it started its current credit tightening campaign last June. At that tim