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What you need to know about the largest interest rate hike since 1994

Wednesday’s rate hike is the highest in 28 years.

According to reports, the Fed’s decision to impose a rate hike is to curb inflation’s pace and persistence.

Check out the story in the video player above for the full report.

Read more: Fed attacks inflation with its largest rate hike since 1994


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About the Authors
Hank Winchester headshot

Hank Winchester is Local 4’s Consumer Investigative Reporter and the head of WDIV’s “Help Me Hank” Consumer Unit. Hank works to solve consumer complaints, reveal important recalls and track down thieves who have ripped off people in our community.

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