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Fed Raises Interest Rates by 0.25%, with More Hikes Expected

In economic news, the Federal Reserve has approved an additional quarter-point hike to its benchmark interest rate. In a statement, the Groundwork Collaborative criticized the Fed’s decision, saying, “With today’s rate hike, the Fed is pushing us dangerously close to an unnecessary recession that would spell disaster for low-wage workers, workers of color, and vulnerable communities.”