Federal Reserve raises interest rates by 75 basis points
Federal Reserve Chairman Jerome Powell speaks on the Fed’s decision to raise interest rates by 75 basis points on July 27, 2022.
Video Transcript
JEROME POWELL: The committee raised the target range for the federal funds rate by 3/4 of a percentage point, bringing the target range to 2 and 1/4 to 2 and 1/2%. And we're continuing the process of significantly reducing the size of our balance sheet, which plays an important role in firming the stance of monetary policy.
