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Fed raises rates and plans another two hikes this year to see off inflation threat 

“US interest rates are set to rise further and faster than previously planned as surging economic growth forces officials to do more to try to see off the threat of inflation” writes Tim Wallace for The Federal Reserve raised interest rates for the second time this year, taking the range of its Federal Funds Rate from 1.75pc to 2pc, up by 0.25 percentage points.

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