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Economy

Fed hikes interest rate another 0.25%, inflation still 'too high'

The central bank may pause rate hikes as a result of the banking crisis, but the economy could still slow down.

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The Federal Reserve continued to slow down the pace of interest rate increases as it seeks to tame still-high inflation.

At its March meeting, the Fed raised its benchmark interest rate by 0.25%. That marks the second straight meeting that the Fed’s key committee has delivered an increase of that size. That followed a rapid tightening of monetary policy last year.

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