Federal Reserve hikes interest rates

The U.S. Federal Reserve today raised the key interest rate by a quarter of a percentage point, bringing it to a range of 3.75% to 4%, after remaining stable for more than three years. This move comes as the central bank attempts to control inflation, which still exceeds the 2% target, with the Consumer Price Index rising by 3.4% in August. Increasing interest rates tends to reduce spending by businesses and consumers, thereby calming economic activity and limiting price increases. Some experts expect the rate hikes to continue in the coming months to better manage inflation, especially amid rising energy prices and ongoing tensions related to the war with Iran.

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