Fed raises rates after long pause

The Federal Reserve has raised interest rates by 25 basis points for the first time in over three years, citing persistent inflation driven by energy prices. The new target range is 3.75% to 4%, with a projection for one additional hike this year. Policymakers emphasized a resilient economy, low unemployment, and the need to restore inflation to the 2% target amid ongoing concerns about elevated inflation levels.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article