Fed Raises Interest Rates by 0.25% for First Time Since 2023 (UPDATED)
The FOMC hiked interest by 25 basis points to 3.75%-4.00% during its September meeting, marking the first increase since 2023.
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Why It Matters
The Federal Reserve just raised borrowing costs for the first time in two years. This means banks will charge more for loans, which affects how much companies and people spend.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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