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In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive action since the Fed began using the overnight funds rate as the principal tool of monetary policy in the early 1990s.

https://www.cnbc.com/2022/07/27/fed-decision-july-2022-.html?utm_content=Main&utm_medium=Social&utm_source=Facebook&fbclid=IwAR3HWMdzcvJx5J_rMEZWUOE4Z8QXsODZ2PrdLp2nWBYGcn79XcBwR4-iAVQ&fs=e&s=cl#Echobox=1658944863

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