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Fed Prepares Another Large Rate Increase to Fight Inflation



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Federal Reserve officials are set to release both an interest rate decision and a fresh set of economic projections on Wednesday, and Wall Street is keenly awaiting those estimates as it tries to understand what the next phase of the central bank’s fight against rapid inflation will look like.Officials are expected to raise borrowing costs by three quarters of a percentage point, their third straight jumbo-sized increase, taking their official interest rate to a range of 3 to 3.25 percent. But investors expect that the central bank could project an even higher rate by the end of the year — so they will also be parsing the Fed’s first set of economic projections since Jun …

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