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The US Federal Reserve approved yet another aggressive interest rate hike yesterday in their quest to combat persistent inflation which is at a 40-year high in America. It is the fourth consecutive 0.75% interest rate hike approved this year. The central bank has raised the policy rate from near zero in March to what is now between 3.75-4%. It is the fastest monetary tightening in the US since the 1980s. The hike intends to slash price increases but risks pushing the US into a recession and putting millions out of work at the same time. The federal funds rate is […]

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