Ever Feel Like Killing Your Boss Shirt
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July 28, 2022, 1:02 AM +07 By Rob Wile The Federal Reserve announced Wednesday it will raise its key interest rate by 0.75% as it seeks to fight sky-high inflation. It’s the Official Ever Feel Like Killing Your Boss Shirt Additionally,I will love this second time in a row the Fed has raised rates by three-quarters of a percentage point, and the fourth rate hike this year. The reason for the hikes: Prices of goods and services are climbing at the highest rate in four decades. Last month, they surged more than 9% compared with June of last year. By raising interest rates, the Fed is hoping to reduce overall demand in the economy, which in turn should slow down price growth. In its statement Wednesday, the Fed said there are signs the rate increases are working. “Recent indicators of spending and production have softened,” the bank said, adding that, at the same time, job gains are robust and the unemployment rate is low, despite inflation. The Fed also cited Russia’s war against Ukraine as a key source of inflation, while suppressing overall global economic activity. Fed Chair Powell addresses interest rate increase, ‘strongly committed’ to reducing inflation JULY 28, 202200:57 Get the Morning Rundown Get a head start on the morning’s top stories. SIGN UP THIS SITE IS PROTECTED BY RECAPTCHA PRIVACY POLICY | TERMS OF SERVICE While many individual households are struggling, U.S. consumers still have approximately $2 trillion in savings from the pandemic in aggregate, PNC chief economist Gus Faucher said. Combined with a stable base of employment, those savings have allowed households to withstand much
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