7 Hrs
Source:
The Guardian
US Fed hikes rates first time since 2023
The Federal Reserve has raised interest rates for the first time since 2023, with a unanimous vote to increase the benchmark rate by a quarter percentage point to a range of 3.75% to 4%. The move aims to combat persistent inflation, which remains above the Fed’s 2% target, and follows higher energy prices driven by geopolitical tensions. Projections indicate another rate increase could occur this year, with officials expecting rates to reach up to 4.5%, while inflation is expected to take until 2029 to return to target levels.
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