Fed Unanimously Raises Rates by a Quarter Point
The Federal Reserve unanimously voted to increase interest rates by a quarter percentage point to a range of 3.75% to 4%. The hike aims to control inflation, with an additional increase projected for later this year. This policy move will test the relationship between Chairman Kevin Warsh and President Donald Trump.
The Federal Reserve voted unanimously to raise interest rates by a quarter percentage point and penciled in an additional hike later this year, steps aimed at containing inflation that will test Chairman Kevin Warsh’s relationship with President Donald Trump. The benchmark federal funds rate is now in a range of 3.75% to 4%. Bloomberg's Michael McKee reports. (Source: Bloomberg)
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