{"id":1983734,"date":"2023-07-26T21:49:02","date_gmt":"2023-07-27T01:49:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-hikes-interest-rates-to-22-year-high\/"},"modified":"2023-07-26T21:50:46","modified_gmt":"2023-07-27T01:50:46","slug":"federal-reserve-hikes-interest-rates-to-22-year-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-hikes-interest-rates-to-22-year-high\/","title":{"rendered":"Fed Raises Interest Rates to Highest Level in 22 Years"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-reserve-hikes-interest-rates-to-22-year-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1983734&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">(Photo \u2064by\u200b SAUL LOEB\/AFP via Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/brooke-mallory\">Brooke Mallory<\/a><br \/>6:34 PM \u2013 \u2063Wednesday, \u2062July 26, 2023  <\/p>\n<h2>The Federal Reserve Raises \u200dInterest Rates to 22-Year High<\/h2>\n<p>The \u2064Federal Reserve made \u2063a bold move on Wednesday, raising interest rates to a 22-year high. This decision comes after a brief pause in rate increases as the central bank tries \u200dto control unprecedented inflation.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The\u2062 Federal Reserve \u200dhas \u2064now raised\u200b its benchmark interest rate range from 0.25%\u2064 to \u200c5.25% and then again to 5.5%. This marks the 11<sup>th \u200d <\/sup>interest rate increase since March 2022.<\/p>\n<p>All \u200d11 voting\u2062 members of the Federal\u200c Open Market Committee (FOMC), the panel of Fed officials responsible\u200d for monetary policy, supported the \u2062rate\u200b rise.<\/p>\n<p>Interest rates are a powerful tool for combating excessive inflation, which has been causing financial strain \u2062for households over the past two years.<\/p>\n<p>In June, inflation\u200d reached a 40-year high of 9.1%, raising concerns about a\u200d possible \u200brecession.<\/p>\n<p>Recent\u2062 consumer \u2062pricing statistics\u2062 from\u2063 the\u2062 Department of Labor show\u200b that price growth has since slowed to 3% year after\u200b year. While this is an\u200b improvement, Federal Reserve officials are still cautious about reducing rate increases until inflation is closer to the bank&#8217;s 2% annual \u2063target.<\/p>\n<p>In\u2063 June, the\u200b Fed decided \u2063to \u200dpause rate hikes, but many members expressed support for raising rates\u2062 last month. Additionally,\u2064 the economy is growing \u2064at a slower \u2062pace and job\u2062 creation has slowed since the \u2062Fed began raising \u200binterest rates.<\/p>\n<p>Although a\u2064 0.25% \u200bincrease may seem insignificant, incremental rate hikes can have a significant impact on the \u2063economy and the \u200bwallets of Americans.<\/p>\n<p>Savings account rates are\u200d now \u200ccomparable \u200cto the cost of\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/household-debt-jumps-by-biggest-amount-in-2-decades-to-record-16-9-trillion\/\" title=\"Household Debt Jumps by Biggest Amount in 2 Decades to Record .9 Trillion\">carrying credit card debt<\/a>, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-hikes-interest-rates-to-22-year-high\/\" title=\"Fed Raises Interest Rates to Highest Level in 22 Years\">higher interest rates make borrowing<\/a> more expensive in an \u200beffort to control inflationary spending.<\/p>\n<p>In June, a survey conducted by the National Association \u2064for Business Economics \u2062(NABE) showed that almost three-quarters of the 52 business economists polled predicted \u200da \u200brecession within the next\u2064 12 months. This is a significant decrease from the 50-50\u2062 split in\u200c the April NABE \u2063survey.<\/p>\n<p>Stay informed! Subscribe to our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-top-aide-to-ex-maryland-gov-larry-hogan-dies\/\" title=\"Former top aide to ex-Maryland Gov. Larry Hogan dies\">free breaking news blasts<\/a> and receive updates directly in your \u200dinbox. <a href=\"https:\/\/www.oann.com\/alerts\">Subscribe here.<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p> At\u2062 least six people are \u2064injured \u200cafter a \u2062Manhattan construction crane catches fire\u2064 and plummets 45 stories.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Hunter&#8217;s Plea Deal is struck down while Mitch McConnell shows\u200c he&#8217;s\u200d 81.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Federal Reserve resumed its aggressive rate hikes to\u200c tackle inflation, raising the interest rate by\u200b a quarter-point today.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>South Carolina Congressman Ralph Norman tells One America News that there is enough evidence and the time has come for a House-initiated\u200d impeachment of Joe Biden.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SYDNEY (Reuters)\u200d &#8211; New Zealand said on Wednesday it would boost its \u200dcyber defences by setting up\u2064 a lead agency to\u200d make\u2026 \u200c <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Supantha Mukherjee,\u200d Martin Coulter and\u200d Sheila \u200dDang (Reuters) -After 17 years with an iconic blue bird that came\u2063 to symbolize the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Elizabeth Howcroft LONDON (Reuters) -Britain&#8217;s data regulator said \u2064on\u2063 Tuesday\u200c it \u2062will examine Worldcoin, a project by OpenAI \u2064CEO Sam Altman\u2026\u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Candelaria Grimberg BUENOS AIRES (Reuters) &#8211; A project by\u2063 Argentine artist Santiago Barros uses artificial intelligence\u2063 to\u200c imagine what the\u200d children\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>to the highest level in 22 years on Wednesday, after a temporary pause in order to manage the surging inflation.<\/p>\n","protected":false},"author":1866,"featured_media":1983735,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1983734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1866"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1983734"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1983735"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1983734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1983734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1983734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}