Fed Raises Interest Rates To 5.5%, The Highest Since Early 2001
- 9 months ago
The Federal Reserve raised the federal funds rate by 0.25% to 5.25%-5.5% as widely anticipated Wednesday, pushing borrowing costs to their highest level since February 2001.
This move marks a resumption of rate hikes after a brief pause in June, bringing the cumulative increase to 5.25 percentage points since the start of the tightening cycle in March 2022.
This move marks a resumption of rate hikes after a brief pause in June, bringing the cumulative increase to 5.25 percentage points since the start of the tightening cycle in March 2022.