In a widely anticipated move, the Federal Reserve raised the official U.S. interest rate by half a percentage point, while saying it will reduce the size of its balance sheet by $47.5 billion a month for three months, and going up to $95 billion a month starting in September, according to a statement Wednesday from the Federal Open Market Committee.
Fed Hikes Rate at Fastest Pace in 22 Years, Will Start Shrinking Balance Sheet
