US Federal Reserve Raises Interest Rates for First Time in Three Years
The central bank's 25 basis-point hike comes as inflation weighs on the economy and ahead of closely watched US midterm elections.
The US Federal Reserve has raised interest rates by 25 basis points, marking its first rate 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 shortly before critical midterm elections in the United States, according to Al Jazeera.
Further details on the Federal Reserve's rationale and the broader economic context were not immediately available.
Sources
- US Fed raises interest rates for first time in three years — Al Jazeera — All
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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