Fed officials are preparing to raise interest rates by a further 0.75 percentage points

Federal Reserve officials have signaled that they are likely to raise interest rates by 0.75 percentage points later this month, for the second meeting in a row, as part of an aggressive effort to combat high inflation.

Politicians left the door open for a major increase in full percentage points at the rally on 26-27. July. But at the same time, some of them poured cold water on the idea in recent interviews and public comments ahead of their quiet period ahead of the meeting, which began on Saturday.

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