Federal Reserve Raises Rates Half A Percentage Point, Largest Increase Since 2000

On Wednesday, the Federal Reserve raised interest rates by half a percentage point and announced a plan to reduce its bond holdings in an attempt to fight the ongoing inflation crisis that began shortly after Democrat President Joe Biden took office. “Wednesday’s move marked the Fed’s largest interest rate increase since 2000, and by shrinking its nearly $9 trillion balance sheet at the same time, the Fed is rapidly withdrawing support from the economy. Together, the policies are likely to ricochet through markets and the economy as money becomes more expensive to borrow,” The New York Times reported. “The quick


