The US Federal Reserve raised interest rates on Wednesday for the first time since 2023, moving to contain inflation that has stayed well above its long-term target. The Federal Open Market Committee announced the decision after a two-day meeting, lifting the benchmark interest rate by 25 basis points to a range of 3.75%-4.00%.
The move marks a shift for the US central bank, which had kept rates unchanged since January as it waited to assess the impact of higher energy prices, tariffs and broader price pressures on the economy.
