by Matthew RuslingWASHINGTON, June 16( Xinhua)--The U.S. Federal Reserve has announced the biggest rate hike in 28 years, and some economists fear a recession lies ahead for the country. The Fed raised the target for the fed funds rate by three-quarters of a percentage point on Wednesday, in an effort to tamp down the worst inflation in 40 years. The rate increase was the biggest since 1994, and was implemented after data showed the central bank has failed in its efforts to fight inflation. The
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2022-06-17 00:00:00.0