Fed Raises Rates to a 22-Year High
WSJ What’s News
The Wall Street Journal
4.1 • 4.2K Ratings
🗓️ 26 July 2023
⏱️ 15 minutes
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| 0:00.0 | The journal's Tech Live is returning to Laguna Beach, October 16th through the 18th. |
| 0:04.6 | Be part of an invitation-only group of Tech's top players and enjoy our exclusive rates. |
| 0:09.8 | Request your invitation today at WSJ.com. |
| 0:13.8 | Slash Tech Live Podcast. |
| 0:23.9 | The Federal Reserve raises rates to a 22-year high, continuing its battle on inflation. |
| 0:29.8 | And in a reversal, Hunter Biden pleads not guilty to tax charges. |
| 0:34.7 | I have been covering federal court for many, many years and I have never seen a court hearing quite like this. |
| 0:39.8 | It was dramatic. It was very testy. |
| 0:42.3 | Plus, the Mattel executive behind Barbie's Revival is set to become GAPS new CEO. |
| 0:48.7 | It's Wednesday, July 26th. |
| 0:50.9 | I'm Amary for Tolly for the Wall Street Journal. |
| 0:53.4 | This is the PM edition of What's News, the top headlines and business stories that move to the world today. |
| 0:59.6 | The Federal Reserve has resumed rate hikes after taking a pause in June. |
| 1:11.3 | The central bank lifted rates a quarter percentage point today, bringing them to a range between 5 and a quarter and 5.5%. |
| 1:18.2 | A 22-year high. |
| 1:20.0 | Fed Chair Jerome Powell spoke about the decision during a news conference this afternoon. |
| 1:24.2 | We've covered a lot of ground and the full effects of our tightening have yet to be felt. |
| 1:29.2 | Still, a big question remains. What's the path ahead? |
| 1:32.6 | Joining me now with more is our heard on the street columnist Justin Lehart. |
| 1:36.6 | Justin, the Fed did not give an indication whether the job is finished. |
| 1:40.1 | Its statement was essentially the same as the one put out in June. |
| 1:43.4 | What should we make of that? |
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