U.S. Federal Reserve Board Chairman Jerome Powell faces reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15.
Mandatory Credit: Elizabeth Frantz/Reuters
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Fed makes history with second massive rate hike in as many months
What seemed unfathomable just six months ago -- a 75-basis-point rate hike by the Federal Reserve -- has now happened twice in a row.
