U.S. Fed hikes interest rates to 15-year high

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U.S. Fed hikes interest rates to 15-year high

STORY: U.S. Fed hikes interest rates to 15-year high DATELINE: Dec. 15, 2022 LENGTH: 00:01:41 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Fed Chair Jerome Powell making opening remarks while attending a press conference on Dec. 14 2. various of exterior of the U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday hiked interest rates to their highest point in 15 years, signaling that the central bank's battle against inflation is far from finished. The Federal Open Market Committee voted to raise the overnight rate of borrowing by half a percentage point, continuing in the most aggressive rate raising cycle in 40 years. However, the half-point increase was smaller than the last four rate hikes, which were 0.75-point increases. That begs the question of whether the Fed will raise rates by smaller amounts going forward, if the central bank continues to follow the same course. The Dow Jones Industrial Average took a nosedive on the news, falling nearly 500 points ju

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