The Federal Reserve Raises Interest Rates for the First Time in 3 Years. Here's What Investors Need to Know.
This could be just the tip of the iceberg.
Overview
Today, in a unanimous 12-0 vote, the Federal Reserve's Federal Open Market Committee (FOMC) voted to raise its benchmark federal funds interest rate by a quarter point, to a range of 3.75% to 4%.
The move was largely expected, given recent comments by several Fed governors expressing concern about inflation, which has been above the Fed's 2% benchmark for more than five straight years.
Details
But even though interest rate hikes are the Fed's primary means of combating inflation, this is its first interest rate increase since July 2023.
Source
Originally published at www.fool.com.
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