WATCH LIVE: The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession.
In a statement, the Fed said the economy “has been expanding at a moderate pace,” a slight upgrade from its assessment in June. It's a sign that it sees the economy as slightly healthier than it did just last month.
Some economists think the Fed might decide to forgo a rate increase in September before weighing a possible hike at its meeting in November. in which its rate hikes would continue to cool inflation without sending the economy tumbling into a painful recession.
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