Fed hikes interest rates by quarter point
The Federal Reserve raised benchmark interest rates to a range of 3.75 to 4 percent to combat inflation. This unanimous decision by the Federal Open Market Committee marks the first rate hike in several years. Fed Chair Kevin Warsh led the vote.
The Federal Reserve raised interest rates Wednesday for the first time in several years in the face of stubborn inflation. The central bank's Federal Open Market Committee (FOMC), under Fed Chair Kevin Warsh, voted unanimously to increase the central bank's benchmark interest rate to a range of 3.75 percent to 4 percent. It marks the...
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