US Federal Reserve Raises Interest Rates by 25 Basis Points
The rate increase, the first in three years, comes as inflation continues to weigh on the US economy ahead of critical midterm elections.
The US Federal Reserve has raised interest rates by 25 basis points, marking the first such increase in three years, according to a report by Al Jazeera.
The move comes as inflation continues to weigh on the US economy, the report said.
The rate hike arrives ahead of critical midterm elections in the United States, according to Al Jazeera.
Further details on the Federal Reserve's decision, including statements from officials or the reasoning behind the timing of the move, were not immediately available.
Sources
- US Fed raises interest rates as inflation weighs on economy — Al Jazeera — All
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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