Why the Federal Reserve is lifting rates now, and what it means
The Federal Reserve's rate-setting committee unanimously approved an interest rate hike after previously keeping rates unchanged. Nearly all policymakers indicated that an additional rate increase will likely occur later this year. This decision marks a shift in the central bank's monetary policy strategy.
WASHINGTON (AP) — About six weeks ago, Federal Reserve Chairman Kevin Warsh announced that a divided central bank was keeping its key interest rate unchanged. But on Wednesday, the Fed’s rate-setting committee unanimously agreed to a rate hike, and nearly all policymakers signaled that a second increase later this year would likely be appropriate. So […]
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