Federal Reserve Raises Interest Rates by 25 Basis Points, Signals Another Hike by Year-End

The US Federal Reserve raised its benchmark interest rate by 25 basis points over high inflation, according to The Zioneer. The central bank also projected one more rate hike by the end of the year.

The Federal Reserve announced Wednesday it is raising its benchmark interest rate by 25 basis points, citing persistently high inflation, according to The Zioneer. In its post-meeting statement, the central bank also projected one additional rate hike before the end of the year. The increase aligns with signals from earlier this year: stronger-than-expected US growth and employment data had led economists to anticipate a rate move as soon as July, as The Zioneer reported in June. The Fed had held rates steady at its July meeting. Markets will now watch for the timing and magnitude of the projected year-end increase.

• Developing21:08 · 29 JulFederal Reserve holds US interest rates steady
• Developing08:21 · 16 JunBank of Japan raises interest rate to 1% — highest since 1995
• Developing16 hours ago · 04:37 · 16 SeptUS 10-Year Yield Breaches 5% for First Time Since Global Financial Crisis
• Developing17:40 · 25 JunStrong US growth data points to Fed rate hike as early as next month

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