Fed raises benchmark rate by quarter point
The Federal Reserve lifted interest rates by a quarter point on Wednesday, its first increase in more than three years.
The move pushed the benchmark rate to a range of 3.75% to 4%. The increase comes as the central bank responds to inflation pressures linked to persistently high oil prices tied to the Iran conflict.
The rate decision marks a shift after more than three years without an increase. Higher benchmark rates can ripple through the economy by affecting borrowing costs for households and businesses.
Please note! Comments are published by readers. The opinions expressed may not reflect the position of the editorial team. USCT is not responsible for the content of readers' opinions and asks authors to observe moral standards, not to incite national or racial hatred, and to avoid rudeness. Think before you speak. You are responsible for your words! By publishing an opinion, you agree to the rules! If this request is ignored, USCT reserves the right to deprive the user of the ability to leave comments.