(WASHINGTON) -- The Federal Reserve instituted a dramatic interest rate hike on Wednesday, the latest in a series of borrowing cost increases, as the central bank tries to dial back near-historic inflation while avoiding an economic downturn. The Fed raised the benchmark interest rate by... Read More.
(WASHINGTON) -- The Federal Reserve raised interest rates significantly on Wednesday, hiking it 0.75%, escalating a strategy of increased borrowing costs that aims to dial back historic inflation. The rate hike of 0.75% marks the largest increase since 1994. The dramatic rate increase follows new... Read More.