Although the rate hike is smaller, it’s still an increase, and indicates the Fed hasn’t gotten a handle on rapidly rising inflation in the U.S.
NEW YORK — The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive.
The rate increase will likely make it even costlier to borrow for homes, autos and other purchases. But if you have money to save, you’ll probably earn a bit more interest on it.
The latest rate increase is smaller than the Fed’s
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