PBS NewsHour

Fed implements highest interest rate hike in decades

Clip: 06/15/2022 | 5m 36s | Video has closed captioning.

The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome Powell acknowledged the ongoing rate hikes might slow growth later this year, as the Fed projected unemployment would rise to 4 percent by 2024. Paul Solman reports.

Aired: 06/15/22

Rating: NR

Problems Playing Video? | Closed Captioning

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