
The Federal Reserve is expected to raise its short-term interest rate for the first time in three years to combat rising inflation.
The consumer price index has continued to rise, with the annual inflation rate at 3.4 percent for August, exceeding the Fed's 2 percent target.
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Left-leaning desks have 1 source on "A Fed rate hike would hurt your wallet — here’s everything to know"; additional angles may appear as coverage expands.
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The rate hike aims to combat rising inflation.
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