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Fed raises US interest rates by half a percentage point
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07 May 2022 (Edited )

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Federal Reserve

Fed Chairman Jerome Powell

The US Federal Open Market Committee (FOMC) has announced in a media release a one-half percentage point increase in interest rates intended to offset 'upward pressure on inflation' due to the Russian invasion of Ukraine, supply-chain disruptions related to COVID lockdowns in China and other factors.

The Dow Jones Industrial Average fell more than 1000 points on the news.

Next up: Labor Department's monthly employment report for April 2022.

Stay tuned.


David Boggs President/CEO ACRO Global|Publisher Tourism Marketer
David H. Boggs
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ACRO Global
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TourismMarketer

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