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November 23, 2022

Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting, Wednesday, Nov. 2, 2022, in Washington. ( Patrick Semansky/AP)

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Most Fed officials at last meeting backed slower rate hikes

Most Federal Reserve officials at their last meeting favored reducing the size of their interest rate hikes "soon''— just before raising their benchmark rate by a substantial three-quarters of a point for a fourth straight time.

By PAUL WISEMAN Associated Press November 23, 2022