Fed Raises Interest Rates for First Time in Three Years
The U.S. Federal Reserve raised interest rates for the first time in over three years and signaled further tightening. The move triggered a rise in the dollar and a decline in major stock indexes.
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The United States Federal Reserve raised interest rates by 25 basis points on Wednesday for the first time in over three years. The unanimous decision triggered a sharp rise in the dollar and a 1.2% slump in the Dow Jones Industrial Average. Markets now price in further tightening by the end of the year as central bank leadership confronts persistent price pressures.
