Fed raises interest rates for first time in 3 years, battling persistent inflation
The Federal Reserve raised interest rates for the first time in three years to combat inflation. The Federal Open Market Committee voted 12-0 for the increase as gas and fuel oil prices soar. This decision occurs while conflict in Iran continues.
WASHINGTON — The Federal Reserve raised interest rates Wednesday for the first time in three years as inflation continues to dog the economy, largely driven by soaring gas and fuel oil prices while the war in Iran drags on. The central bank’s Federal Open Market Committee voted 12-0 to increase its benchmark interest rate by a […]
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