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Fed raises rates for first time since 2023
The U.S. Federal Reserve has decided to raise interest rates for the first time since 2023, by a quarter of a percentage point, bringing the range to 3.75-4%. This move comes as part of efforts to control inflation, which remains stubbornly unmanageable so far, with hints of possible further hikes in the coming months, in accordance with an unanimously approved decision led by the new bank chairman, Kevin Worch.
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