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WEKU
WEKU
Scott Horsley

The Fed raises interest rates again in what could be its final attack on inflation

Inflation Interest Rates the Federal Reserve Jerome Powell US Federal Reserve Michael Barr Silicon Valley Bank
Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C, on March 22, 2023. The Fed raised interest rates again Wednesday but signalled it may be the last hike for a while. (Olivier Douliery/AFP via Getty Images)

The Federal Reserve raised interest rates by another quarter percentage point Wednesday, extending its 14-month crackdown on stubborn inflation.

With signs of a softening job market and slower economic growth, this could be the central bank's last rate hike for a while, especially as turmoil in the banking sector raises new uncertainties.

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