Fed raises rates and signals one more hike this year
Federal Reserve officials raised interest rates by a quarter point to four percent and signaled another increase is likely this year. Policymakers also marked up their inflation outlook while maintaining stable growth and employment projections.
Federal Reserve officials in the United States raised the target rate by a quarter percentage point to 3.75%-4.00% on Wednesday afternoon. Policymakers penciled in one additional rate increase this year and projected holding rates steady through 2027. The move reflects ongoing challenges with inflation remaining above the central bank's target.
