a breach of the minesterial code. tonight with the context, the spectator s deputy political editor katy balls and the republican strategist doug heye. hello, welcome to the programme. we have lived through an era of record low interest rates. for years, it was cheap to borrow, while the money put away in savings accounts earned us very little in return. but things are changing. today, the us federal reserve set out an increasingly aggressive approach to monetary policy as it confronts the highest inflation in the united states forfour decades. in the last hour, it raised interest rates by 0.75% which is the biggest jump in rates since 1994. and that has implications for all of us. here s the chair of the federal reserve, jerome powell. the current picture it s plain to see. the labour market is extremely tight, and inflation is much too high. against this backdrop, today the federal open market committee raised its interest rate by 0.75% in anticipation of ongoing increases
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