Federal Reserve Raises Interest Rates by 0.75%, Matching June's Historic Move

Thursday, July 28th, 2022

The Federal Reserve on Wednesday raised interest rates by 0.75% as the central bank attempts to avoid a deep recession.

The decision to move by 0.75% matched the magnitude of the Fed’s last move in June, which was its largest single-meeting rate increase since 1994. Wednesday's decision was unanimously agreed upon by voting members of the Federal Open Market Committee. See more