Fed Raises Interest Rates for First Time in Over Three Years as Inflation Stays High
Central bank lifts benchmark rate by 25 basis points to 3.75%-4% range in unanimous decision, according to Anadolu Agency.
The U.S. Federal Reserve raised its benchmark interest rate for the first time in more than three years, according to a report by Anadolu Agency.
The central bank lifted the rate by 25 basis points, bringing it to a range of 3.75% to 4%, the report said, citing the decision as unanimous among policymakers.
The move comes as inflation in the United States remains elevated, according to Anadolu Agency, though the report did not provide additional detail on the specific inflation figures or the Fed's outlook for future rate changes.
Anadolu Agency did not attribute the decision to specific comments from Federal Reserve officials in the excerpt reviewed for this report. Further details on the rationale behind the rate hike and its expected economic impact were not immediately available.
Sources
- US Fed raises interest rates for 1st time in over 3 years as inflation remains elevated — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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