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Fed unleashes another big rate hike but hints at a pullback

The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time but hinted that it could soon reduce the size of its rate hikes.

 
Stocks suffer worst day in 2 years; Dow down 1,250

The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped.

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