Fed raises interest rates half a point to highest level in 15 years

Fed raises interest rates half a point to highest level in 15 years

• The Federal Reserve continued its battle against inflation by raising its benchmark interest rate to the highest level in 15 years.
• The Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%.
• Along with the increase came an indication that officials expect to keep rates higher through next year, with no reductions until 2024.

https://www.cnbc.com/2022/12/14/fed-rate-decision-december-2022.html