US Federal Reserve hikes interest rates by 0.75% for the 3rd time in a row

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The US Federal Reserve System on Wednesday raised its benchmark interest rate by 0.75% for the third straight time. The move will raise its key rate to a range of 3.00% to 3.25%, the highest since 2008. US stock indexes rose on Wednesday ahead of the rate hike announcement by the US Federal Reserve System.

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