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The Federal Reserve raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
The Fed's move will raise its key rate, which affects many consumer and business loans, to its highest level since 2018.
The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
With inflation at a four-decade high, the job market strong and consumers still spending, the Federal Reserve is under pressure to continue raising interest rates aggressively.
The Federal Reserve raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.