The Federal Reserve raised the target range for its benchmark interest rate to a new range of 5%-5.25%, the highest its been since September 2007 — and it could get higher still.
The Federal Reserve raised the target range for its benchmark interest rate by 0.25% on Wednesday while leaving its options open on future rate hikes.
Fed officials still view inflation as elevated, and note that they remain "highly attentive" to inflation risks.
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