Fed raises interest rates for first time in 3 years, battling persistent inflation
The Federal Reserve raised its benchmark interest rate for the first time in three years on Wednesday in an effort to combat persistent inflation and soaring energy costs. The unanimous 12-0 vote aims to stabilize an economy pressured by high fuel prices and ongoing geopolitical conflict.
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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