Fed Increase Interest Rate Again  

The Federal Reserve raised interest rates by a 0.25 percentage point Yesterday to further fight inflation, bringing an end to a brief pause to rate hikes from last month. 

The change brings borrowing costs to a 22-year high range of 5.25 percent to 5.5 percent, an increase that will be felt by businesses and consumers alike. Though inflation has come down significantly in recent months, it’s still above the Fed target rate of 2 percent.