How Fed hikes work and why the Fed uses them to fight inflation - USA TODAY

The Federal Reserve will likely raise interest rates by 0.75 percentage point this week to try to to stem inflation. How do interest rate hikes work?

• Higher interest rates make borrowing and spending across the economy more difficult, cooling demand
• The Fed is expected to raise rates three more times in 2022
• The next Fed hi… [+3540 chars]
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