Fed Raises Rates By 0.75 Percentage Point, Largest Increase Since 1994

NEW YORK, NEW YORK - JUNE 14: People walk by the New York Stock Exchange (NYSE) on June 14, 2022 in New York City. The Federal Reserve approved the largest interest rate increase since 1994 and signaled it would continue lifting rates this year at the most rapid pace in decades as it races to slow the economy and combat inflation that is running at a 40-year high.