BREAKING: Federal Reserve raises key interest rate 0.75% as it works to fight record-high inflation.
. The higher-than-expected inflation reading jostled markets early in the week. On Monday, the S&P 500 officially entered bear market territory.
“Chairman Jerome Powell and his colleagues are walking a monetary policy tightrope hoping to avoid a recession while dampening demand," said Mark Hamrick, senior economic analyst at Bankrate in a note.
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