Fed raises key interest rate in largest hike since 1994

The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession.

Practical financial precautions

As signs that the economy might head into a recession increase, Minnesotans are wondering what they can do now to start bracing for the impact. FOX 9’s Rose Schmidt examines techniques you can take today.