Fed Hikes Interest Rates First Time In Three Years In Unanimous Call
The US Federal Reserve raised its benchmark policy interest rate by 25 basis points to 3.75–4% for the first time in three years, broadly in line with Wall Street estimates amid inflationnary pressures from geopolitical risk premium. The Federal Open Market Committee (FOMC), in its third meeting under the chairmanship of Kevin Warsh, voted unanimously to hike the federal funds lending rate.
