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The Federal Reserve raised interest rates above 5 percent for the first time since 2007.

Full article here:
https://www.nytimes.com/live/2023/05/03/business/fed-interest-rates?smid=url-share

And do you know what happened in 2007 – 2008?

Find out here:
https://www.investopedia.com/articles/economics/09/financial-crisis-review.asp -the-bottom-line

What's next?

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I.M.F. Lowers Growth Outlook Amid Financial System Tremors The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.

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Mass Layoffs and Absentee Bosses Create a Morale Crisis at Meta Workers at Facebook’s parent have been increasingly alarmed by job cuts and the company’s direction.