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Fed Hikes Rate at Fastest Pace in 22 Years, Will Start Shrinking Balance Sheet

The central bank is taking a hawkish stance as inflation is running at its highest level in four decades.

Updated May 11, 2023, 5:00 p.m. Published May 4, 2022, 6:13 p.m.
Federal Reserve chair Jerome Powell at a press conference following the Fed's decision on May 4, 2022. (Source: Wall Street Journal)
Federal Reserve chair Jerome Powell at a press conference following the Fed's decision on May 4, 2022. (Source: Wall Street Journal)