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November 3, 2022
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A r u b a ’ s O N L Y E n g l i s h n e w s p a p e r
Aruba’s ONLY English newspaper
Aruba host of conference

regarding financial preparedness
and resilience

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Federal Reserve Chair Jerome Powell speaks at a news conference Wednesday, Sept. 21, 2022,
at the Federal Reserve Board Building, in Washington.
(AP Photo/Jacquelyn Martin, File) Gershwin Lee:
Fed unleashes another big rate hike A headmaster who is more

but hints at a pullback like a coach for his students

By Christopher Rugaber and other consumer and business loans in-
Associated Press creasingly expensive and heightened the
Washington (AP) — The Federal Reserve risk of a recession. But in a statement after
pumped up its benchmark interest rate its latest policy meeting, the Fed suggest-
Wednesday by three-quarters of a point ed that it might soon shift to a more delib-
for a fourth straight time to fight high infla- erate pace of rate increases. It said that in
tion but hinted that it could soon reduce coming months it would consider the cu-
the size of its rate hikes. The Fed’s move mulative impact of its large rate hikes on
raised its key short-term rate to a range of the economy. It noted that its rate hikes
3.75% to 4%, its highest level in 15 years. It take time to fully affect growth and infla-
was the central bank’s sixth rate hike this tion. Page 11
year — a streak that has made mortgages Continued on Page 2